Microsoft shifts timing of $40 billion buyback plan

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Microsoft shifts timing of $40 billion buyback plan

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Microsoft shifts timing of $40 billion buyback plan

Microsoft Corp., the world's largest software company, on Friday announced a shift in the timing of
its plans to buy back $40 billion worth of its own shares, saying it expects to acquire $3.8 billion
worth in an undersubscribed tender offer that expired overnight and shifting the balance to its
long-term program.

Microsoft, which had been prepared to repurchase up to $20 billion worth of its stock through the
modified Dutch-auction offer, shifted the remaining $16.2 billion to its ongoing repurchase program
that runs through June 30, 2011.

As a result, the company has $36.2 billion remaining in its ongoing repurchase program.

Based on preliminary results of the just-ended tender offer, the Redmond, Wash., firm said it
expected to acquire about 155 million of its own common stock at a price of $24.75 per share. That
represents about 1.5 percent of Microsoft's shares outstanding - less than that 8.1 percent, or
around 808.1 million shares in total, it had offered to acquire in the tender offer.

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