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The withdrawal of Telephone and Data Systems' offer to acquire Array Digital, paired with an announcement of a stock repurchase program, sent $TDS shares higher on the session.
Together the two moves place capital allocation in focus. The next step on the tape is the formal launch and terms of the repurchase program. Exiting the Array Digital bid clears deal uncertainty from the setup.
Buyback programs redirect capital away from a pending acquisition target and back toward the existing share base. The session gain reflects the market's initial read on that shift.
Size and pace of the repurchase are the details still ahead, and what TDS discloses at launch will define the program's actual scope. Related reading - FDHAX sets $0.0863 monthly cash dividend, all key dates September 30
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