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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (270188)1/27/2006 6:56:17 AM
From: Elroy  Read Replies (1) of 1572377
 
Debt issuance in action. These guys sound like they are going to issue ~$3 billion in debt to buy back ~40% of their own stock. Its an indicator of strength and will increase their value, not the opposite as you seem to believe from your earlier post on the subject.

* The Company announced today that its Board of Directors has approved a
"Dutch Auction" tender offer to purchase up to 55.5 million shares of
its Class A common stock at a price per share not less than $56 and
not greater than $63. The number of shares of Class A common stock
proposed to be purchased in the Dutch Auction tender offer represents
approximately 45% of the Company's outstanding common stock. The
Company's directors and executive officers will not tender any shares
pursuant to this transaction.

biz.yahoo.com
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