Adobe Approves Plan to Buy Back $2 Billion in Stock Through 2015
Adobe Systems Inc. (ADBE), the largest maker of graphic-design software, approved a plan to buy back as much as $2 billion in shares through the end of fiscal 2015.
The company will buy stock in the open market and set up structured repurchase agreements with third parties, San Jose, California-based Adobe said in a statement. The new program, approved by Adobe’s board, is similar to an earlier plan to repurchase $1.6 billion through the end of fiscal 2012.
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