3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-13.3%

Nov 7 11:47 AM EST

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To: DMaA who wrote (43149)	5/9/2000 1:42:00 PM
From: David E. Taylor	Read Replies (2) of 45548

DMA: From the 3Com PR: 3com.com "3Com also announced today that its Board of Directors has authorized expansion of the company's stock repurchase program in the amount of up to one billion dollars....... This new program replaces previous authorizations totaling 45 million shares between June 1998 and September 1999. During fiscal 2000 the company repurchased 20.5 million shares, bringing the total number of shares repurchased since June 1998 to 35.3 million, which represents a total outlay of $919.3 million.......The amount and timing of shares to be purchased will be based on several factors, including method of repurchase selected, the price of the company's stock, the level of stock issuances under the company's employee stock plans and market conditions" My reading of this is that the old plan - to buy back up to 45 million shares, of which 35.3 were actually repurchased for $919.3 million - is now retired, and that the new plan starts over with a new $1 billion authorization. How many shares actually get repurchased will obviously depend on if they buy pre or post D-Day. David T.

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