International Game Tech (IGT) Approves $1B Common Buyback; $400M Accelerated Buyback with Goldman Sachs
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International Game Technology (NYSE: IGT), a global leader in driving technology innovations in the gaming industry, today announced that its Board of Directors has authorized a new share repurchase program of up to $1 billion of the Company's outstanding common stock.
Additionally, the Company has entered into an accelerated stock buyback agreement with Goldman, Sachs & Co., under which it will repurchase approximately $400 million of its common stock. The accelerated stock buyback will be conducted as the first part of the Company's new $1 billion share repurchase authorization. The remaining $600 million is currently anticipated to be utilized over the next 3 to 4 years.
Additionally, the Company has entered into an accelerated stock buyback agreement with Goldman, Sachs & Co., under which it will repurchase approximately $400 million of its common stock. The accelerated stock buyback will be conducted as the first part of the Company's new $1 billion share repurchase authorization. The remaining $600 million is currently anticipated to be utilized over the next 3 to 4 years.
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