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Merck announces $5 billion accelerated share repurchase

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Merck & Co., in the Whitehouse Station section of Readington, announced Tuesday it has entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. to repurchase $5 billion of Merck's common stock.

Proceeds from the company's recently concluded debt offering were used to execute the share repurchase, part of Merck's previously announced $15 billion share repurchase program.

Under the terms of the agreement, Merck has agreed to repurchase $5 billion of its common stock from Goldman Sachs, with an initial delivery of approximately 99.5 million shares based on current market prices.

Write to the Editorial Department at editorial@njbiz.com

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