Merck stock buy-back
Purchase of up to $ 1 bil. of common stock approved by firm's board. At current prices, the buy-back would total 15.6 mil. shares. Merck currently has 397 mil. outstanding shares, valued at about $ 25 bil. Under buy-backs that occurred from 1984 through 1987, Merck spent $ 1.9 bil. to acquire 56 mil. shares.
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