Mondelez International Buyback
OLI recorded this information on 12/3/2013
Mondelez International today announced that its Board of Directors has approved an increase of $1.7 billion in the company's current share repurchase program. The company is now authorized to repurchase up to $7.7 billion of Mondelez International Class A Common Stock through 2016, up from the previous authorization of $6 billion. In addition, the company has entered into an accelerated share repurchase (ASR) agreement to purchase $1.7 billion of the company's common stock.
Mondelez International sells food and beverage products. Co. makes and sells primarily snacks, including biscuits (cookies, crackers and salted snacks), chocolate, gum and candy, as well as various cheese and grocery and powdered beverage products. Co.'s portfolio includes snack brands such as Cadbury, Milka and Toblerone chocolate; Oreo, belVita and LU biscuits; Halls candy; Trident gum and Tang powdered beverages. Co.'s operations and management structure are organized into four operating segments: Latin America; Asia, Middle East and Africa; Europe; and North America. Co. sells its products to supermarket chains, wholesalers, supercenters, value stores and other retail food outlets.
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Strong Buy (3.87 out of 4)