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National Semiconductor Announces $1.5 Billion Accelerated Share Repurchase Program as Part of Additional $2.0 Billion Share Repurchase Authorization.

Publication: PR Newswire
Publication Date: 07-JUN-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SANTA CLARA, Calif., June 7 /PRNewswire-FirstCall/ -- National Semiconductor Corporation announced today that its Board of Directors has approved a $1.5 billion accelerated share repurchase program (ASR) as part of an additional $2.0 billion share repurchase authorization to buy back National's common stock beyond previously approved share repurchase programs.

With approximately $380 million remaining under previous authorizations, the aggregate available authorized stock repurchase now totals approximately $2.4 billion, of which $1.5 billion will be completed through the ASR.

The ASR is covered by two agreements with Goldman, Sachs & Co. Under one of the agreements, the...

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