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Thermo Fisher Board Authorizes $2.5 Billion Stock Buyback

By Colin Kellaher

 

Thermo Fisher Scientific Inc. (TMO) on Friday said its board authorized the repurchase of $2.5 billion of common stock in the open market or in negotiated transactions.

The Waltham, Mass., company, which has about 400 million shares outstanding, sports a market capitalization of roughly $117.7 billion based on Thursday's closing price of $293.54.

Thermo Fisher said the buyback program, which has no expiration date, replaces a previous authorization that had $500 million remaining.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

November 08, 2019 08:28 ET (13:28 GMT)

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