- Together with the shares remaining under an existing authorization, Altera (ALTR) is free to repurchase up to 41.1M shares, or 13% of outstanding shares. At current levels, buying back 41.1M shares would cost $1.44B. (PR)
- Altera says it pay for its buybacks via cash on hand, cash from operations, and newly-issued debt. The chipmaker had $500M in debt on its balance sheet as of June 28, and $3.7B in cash/investments.
- Shares +1% AH.
Altera adds 30M shares to buyback plan, plans to issue debt
Aug 28 2013, 16:29 ET