Merck & Co announces $10B share buyback
Merck & Co's board has approved purchases over time of up to anadditional $10 billion of its common stock for its treasury. The company is currently making purchases under a February 2000, $10 billion authorization. Through June 30, 2002, Merck spent $7.7 billion to acquire 115.3 million shares under that authorization and had approximately 2.3 billion shares outstanding (basic) as of that date.
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