Ashland (ASH) Enters $500M Accelerated Buyback Agreement
Get Alerts ASH Hot Sheet
Join SI Premium – FREE
Ashland (NYSE: ASH) announced announced that it has entered into an uncollared accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. to repurchase an aggregate of $500 million of Ashland's common stock. In April 2015, Ashland's board of directors approved a $1 billion share repurchase authorization expiring December 2017.
Under the ASR agreement, Ashland has agreed to repurchase an aggregate of $500 million of its common stock from Goldman Sachs, with an initial delivery of approximately 3.9 million shares. The ASR Agreement is scheduled to terminate no later than May 2016 but may be terminated early in certain circumstances, in whole or in part. Goldman Sachs may be required to deliver additional shares of common stock to Ashland, or under certain circumstances, Ashland may be required to deliver shares of common stock or to make a cash payment, at its election, to Goldman Sachs.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ball Corporation (BALL) Raises Dividend, Enters 40M Share Buyback, Announces Management Changes
- Gryphon Digital Mining (GRYP) Announces $5M Share Buyback
- Amphenol (APH) Reports Q1, Announces $2B Share Buyback
Create E-mail Alert Related Categories
Stock BuybacksRelated Entities
Goldman SachsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!