ADVFN - Advanced Financial Network.
HOME» NASDAQ » M » MSFT Stock Price » MSFT Stock News

Microsoft Share News

 Microsoft (mm) Stock Price
MSFT Stock Price
 Microsoft (mm) Stock Chart
MSFT Stock Chart
 Microsoft (mm) Stock News
MSFT Stock News
 Microsoft (mm) Company Information
MSFT Company Information
 Microsoft (mm) Stock Trades
MSFT Stock Trades

AOL Unveils Plans to Buy Back $400 Million of Stock

--AOL Inc. (AOL) unveiled plans to buy back $400 million worth of its shares --First step in returning to shareholders all of the proceeds of its $1.1 billion patent sale to Microsoft Corp. --Modified "Dutch auction" tender offer will include $40 million from the previous $250 million buyback the company announced last August. AOL Inc. (AOL) unveiled plans to buy back $400 million worth of its shares, billing it as the first step in returning to shareholders all of the proceeds of its $1.1 billion patent sale to Microsoft Corp. (MSFT). The so-called modified "Dutch auction" tender offer will include $40 million from the previous $250 million buyback the company announced last August. It begins Thursday and will run through 5 p.m. on Aug. 2. Under the terms of the offer, shareholders will be able to tender some or all of their shares at a price between $27 and $30 per share. AOL closed Wednesday at $27.31. AOL executives emphasized the buyback was just the beginning of the return of the patent proceeds, but said it needed to employ several steps and potentially several methods of returning the money to limit the tax impact. These methods could include tender offer, buyback in the open market, privately negotiated transactions and dividend payments, they said. "Today's announcement is a necessary first stop in the return of capital to our shareholders," said Artie Minson, AOL's chief financial officer, in a statement. At the company's last earnings call, AOL Chief Executive Tim Armstrong pledged to return all of the proceeds of the patent sale to shareholders. That promise very likely helped him win a proxy fight during the company's annual meeting earlier this month, analysts said. But he did not make that pledge until after the dissident shareholder, Starboard Value LP, publicly demanded it. Starboard nominated three board members, all of whom were defeated. Write Keach Hagey at keach.hagey@wsj.com

Stock News for Microsoft (MSFT)
DateTimeHeadline
05/23/201511:22:02Microsoft Windows Phone Gets a New (and Old) Partner
05/23/201510:00:02Starbucks Rewards: Can A Spotify Deal Help Improve The Rewards...
05/20/201517:04:04Statement of Changes in Beneficial Ownership (4)
05/20/201512:15:10What Is the S&P 500 Index?
05/20/201512:01:00Microsoft recognizes outstanding contributions by suppliers
05/20/201510:40:03Can Advanced Micro Devices, Inc. Be Saved By Augmented and Virtual...
05/20/201510:24:56Carl Icahn Thinks Apple, Inc. Is Worth $240: Time to Buy?
05/20/201510:00:02Carl Icahn Thinks Apple, Inc. Is Worth $240: Time to Buy?
05/20/201508:00:02Sorry, Carl Icahn, But Apple Isn't Making a TV
05/19/201519:30:33New Computer Bug Exposes Broad Security Flaws
05/19/201519:00:15Tim Cook is Making His Mark on Apple
05/19/201518:00:03Apple Inc's Latest Acquisition Could Hurt Google Inc.
05/19/201517:00:113 Reasons Cisco Systems, Inc Stock Could Fall
05/19/201517:00:02Microsoft Corporation Gains a Key Ally for Windows Phone, but...
05/19/201516:40:55Statement of Changes in Beneficial Ownership (4)
05/18/201521:09:03The 30 Dow Jones Stocks
05/18/201517:20:10Is Microsoft Corporation Stock a Buy?
05/18/201517:03:02International Business Machines Corp. Gains a Key Ally in the...
05/18/201516:45:15Statement of Changes in Beneficial Ownership (4)
05/18/201516:40:29Statement of Changes in Beneficial Ownership (4)

Microsoft and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad