Walt Mossberg – For iPad and Mobile Devices, a “Port” out of the Norm
Google (GOOG) plans to buy back $750 million of its common stock to offset dilution from shares to be issued in the pending all-stock acquisition of AdMob, CEO Eric Schmidt told Bloomberg yesterday.
In a research note, Broadpoint.Amtech analyst Benjamin Schachter notes that this will be the first time Google has ever repurchased any of its own shares, despite its $22 billion cash position.
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