Crown Holdings (CCK) Enters $200M Buyback Agreement w/ Merrill Lynch

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Crown Holdings, Inc. (NYSE: CCK) has entered into a definitive agreement with Merrill Lynch, Pierce, Fenner & Smith to purchase shares of its common stock under an accelerated share repurchase program. Pursuant to the agreement, Crown initially purchased 5,016,190 shares for $200 million. The final number of shares to be repurchased will be based on Crown's volume-weighted average stock price during the term of the transaction, which is expected to be completed in November of 2012.

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