Popular headphone maker Beats is buying back HTC's 25 percent stake in the company. HTC originally bought a $300 million, 50.1 percent stake in Beats back in 2011, and the headphone maker then paid $150 million to buy back half of that investment last year. Today's announcement means the close partnership between the two companies is coming to an end, with Beats buying back the final $265 million in shares.
This is written weird, but 150+265 = $415m total repurchase or 130% of $300 million initial investment.
(If ∑=$265 was paid for the 300 million, the latter payment should have been referenced as 265-150=$115.)
This is written weird, but 150+265 = $415m total repurchase or 130% of $300 million initial investment.
(If ∑=$265 was paid for the 300 million, the latter payment should have been referenced as 265-150=$115.)