HP Board Authorizes $10 Billion for Share Buybacks
This article is for subscribers only.
Hewlett-Packard Co., the personal-computer maker in a $2 billion bidding war for data-storage provider 3Par Inc., said its board approved an additional $10 billion for share repurchases.
The move, which adds to the $4.9 billion already available, will help offset dilution from employee stock purchases, the Palo Alto, California-based company said today in a statement. HP will repurchase at least $3 billion in shares in the fiscal fourth quarter ending in October, Cathie Lesjak, interim chief executive officer, said in the statement.