Autoliv (ALV) Settles Outstanding Equity Units; Total Outstanding Common Now at 95.3M
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Price: $78.13 +0.86%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 2.6%
EPS Growth %: +20.6%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 2.6%
EPS Growth %: +20.6%
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Autoliv, Inc. (NYSE: ALV) announced the settlement of all of its remaining Equity Units, resulting in an increase of the number of outstanding shares to approximately 95.3 million. The Equity Units (traded as Corporate Units – ALV.PRZ - CUSIP 052800208) will no longer be traded on the New York Stock Exchange.
On April 30, 2012, Autoliv, Inc., settled the purchase contracts forming a part of its Equity Units issued in 2009 by delivering 5.8 million shares of its common shares to Equity Units holders. In return, the Company received approximately $106 million in cash. As a result of the settlement, the Company’s net cash position and its stockholders’ equity were increased by approximately $106 million, while the total number of shares outstanding increased from approximately 89.5 million to 95.3 million.
As already announced, the Company successfully remarketed the debt component of the Equity Units on March 15, 2012. This remarketing is expected to reduce the Company’s interest expense net by $11 million in 2012 compared to last year.
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On April 30, 2012, Autoliv, Inc., settled the purchase contracts forming a part of its Equity Units issued in 2009 by delivering 5.8 million shares of its common shares to Equity Units holders. In return, the Company received approximately $106 million in cash. As a result of the settlement, the Company’s net cash position and its stockholders’ equity were increased by approximately $106 million, while the total number of shares outstanding increased from approximately 89.5 million to 95.3 million.
As already announced, the Company successfully remarketed the debt component of the Equity Units on March 15, 2012. This remarketing is expected to reduce the Company’s interest expense net by $11 million in 2012 compared to last year.
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