Crown Holdings (CCK) Announces Plasn to Buyback Shares from Barclays Bank
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Crown Holdings, Inc. (NYSE: CCK) entered into a definitive agreement with Barclays Bank PLC to purchase shares of Crown’s common stock under an accelerated share repurchase program.
Pursuant to the agreement, Crown is expected to purchase its first allotment of shares from Barclays for $100 million during the early part of the week beginning December 19, 2011. The total number of shares to be repurchased and the aggregate cost to Crown will be based on Crown’s volume-weighted average stock price (subject to provisions establishing a maximum price) during the term of the transaction, which is expected to be completed in the first quarter of 2012.
Pursuant to the agreement, Crown is expected to purchase its first allotment of shares from Barclays for $100 million during the early part of the week beginning December 19, 2011. The total number of shares to be repurchased and the aggregate cost to Crown will be based on Crown’s volume-weighted average stock price (subject to provisions establishing a maximum price) during the term of the transaction, which is expected to be completed in the first quarter of 2012.
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