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Honda Announces ¥1.1 Trillion ($7 Billion) Share Buyback, Stock Surges Over 17% Amid Nissan Merger Talks
Dec 24, 2024, 03:10 AM
Honda Motor Co. announced a share buyback plan worth up to 1.1 trillion yen (approximately $7 billion), representing 23.7% of its outstanding shares. This announcement has led to a surge in Honda's stock price, which climbed over 17%, marking its best performance in more than 16 years. The buyback plan comes amid ongoing merger discussions with Nissan, whose shares experienced volatility, dropping 7% after a previous surge of 24% last week following reports of the deal with Honda. The stock market reaction reflects investor optimism regarding Honda's strategic moves, while Nissan's stock faced concerns about the merger ratio.
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