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Can companies use cash held offshore to buyback stock?


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Can companies flush with cash held offshore use that cash to buyback stock?


I understand that companies hold a lot of cash in their international subsidiaries and might not want to repatriate that back to the US to avoid US taxation. Can that cash be used for stock repurchase programs or is it prohibited because it is offshore?


I guess anyone following the Apple/Icahn story might know the answer to this one. Thanks

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