Seeking Alpha

3M announces $12B buyback, shares +2.6% AH

  • 3M (MMM) is launching a new $12B buyback program. The program replaces 3M's existing authorization, and is good for repurchasing 14% of outstanding shares at current levels.
  • 3M spent $5.2B on buybacks in 2013, and $1.7B just in Q4. Will new debt be issued to pay for additional repurchases? 3M ended Q4 with $4.9B in cash/investments, and $6B in debt.
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Comments (1)
  • acsky
    , contributor
    Comment (1) | Send Message
     
    I am new, don't understand stock so much. Recently I want to buy 3M stocks, read the news. I am wondering at what price 3M buyback their outstanding stocks?
    10 Feb 2014, 02:38 PM Reply Like
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