NEW YORK – Thermo Fisher Scientific said on Friday that its board of directors has authorized the repurchase of $4 billion of shares of its common stock in the open market or in negotiated transactions.
The authorization has no expiration date and replaces the company’s existing repurchase program, authorized last year, of which $1 billion was remaining, Thermo Fisher said.
In early morning trading on Friday on the New York Stock Exchange, Thermo Fisher's shares were down 2 percent at $519.23.