STMicroelectronics has announced that its Supervisory Board has authorized the company to repurchase up to 30 million shares of its common stock.
ST plans to repurchase shares at times and prices considered appropriate by the Company in open market or privately negotiated transactions. Repurchased shares will be held as Treasury Stock and will be used for future Employee Unvested Stock Plan program requirements. The repurchase will be funded from currently outstanding cash and cash equivalents.
