Investing in a down market
Executive Summary
Bristol repurchased 11.3 mil. shares during the first quarter for $700 mil. in cash, or an average of about $62 per share. The stock is currently trading at about $57 per share. Bristol paid a total of $5.3 bil. to buy back 93 mil. shares during 1998-2000 (an average of $57 per share)
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