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Microsoft cranks up stock buyback program

Company to increase size of ongoing stock repurchase program by additional $16.2 billion.

Microsoft on Friday said it would increase the size of its large stock repurchase program by an additional $16.2 billion, bringing the total to $36.2 billion shares it will acquire through June 30, 2011.

The software giant also announced the preliminary results from its modified Dutch auction tender offer, noting that it expects to acquire 155 million shares at $24.75 each. Microsoft expects to spend approximately $3.8 billion to buy back the shares.