STMicroelectronics
(NYSE: STM) today 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.
STMicroelectronics
STMicroelectronics is a global leader in developing and delivering
semiconductor solutions across the spectrum of microelectronics
applications. An unrivalled combination of silicon and system expertise,
manufacturing strength, Intellectual Property (IP) portfolio and strategic
partners positions the Company at the forefront of System-on-Chip (SoC)
technology and its products play a key role in enabling today's convergence
markets. The Company's shares are traded on the New York Stock Exchange, on
Euronext Paris and on the Milan Stock Exchange. In 2007, the Company's net
revenues were $10 billion.
SOURCE STMicroelectronics
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