Honda shares set for best day in more than 16 years on share buyback plan, Nissan deal

Shares of Japanese automaker Honda were on track for their best day in 16 years after it announced to buy back up to 1.1 trillion yen ($7 billion) of its shares on Monday amid merger talks with Nissan.Nissan and Honda said they had begun official negotiations to merge, which could catapult them to the world's third-largest carmaker by sales.Honda also announced to buy back 24% of its issued shares by Dec. 23 next year. Its shares were last up 15.51%, and would clock their best day since October 2008, if gai ...