Broadcom to buy back up to US$12 billion of shares

Broadcom to buy back up to US$12 billion of shares

Chipmaker Broadcom Inc said on Thursday it would buy back up to US$12 billion of its common stock.

FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd, who announced on Monday an uns
FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File photo

REUTERS: Chipmaker Broadcom Inc said on Thursday it would buy back up to US$12 billion of its common stock.

The company, which last month ended its efforts to acquire rival Qualcomm Inc, said the authorization of the repurchase program is effective immediately and until the end of its fiscal year on Nov.3.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

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