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.
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(END) Dow Jones Newswires
November 08, 2019 08:28 ET (13:28 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.