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Short Take: IBM to repurchase stock

IBM announced that its board of directors has authorized the company to repurchase up to an additional $3.5 billion of IBM common shares. IBM said it plans to buy the shares on the open market from time to time, depending on market conditions. Since January 31, 1995, Big Blue has repurchased approximately $16 billion of its common stock following a series of earlier board authorizations.

Dawn Kawamoto
Dawn Kawamoto Former Staff writer, CNET News
Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.
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announced that its board of directors has authorized the company to repurchase up to an additional $3.5 billion of IBM common shares. IBM said it plans to buy the shares on the open market from time to time, depending on market conditions. Since January 31, 1995, Big Blue has repurchased approximately $16 billion of its common stock following a series of earlier board authorizations.