Domtar (UFS) to Repurchase Shares of Common Stock Through $200M Accelerated Buyback
- U.S. stocks close down on news of Biden tax proposal
- Biden To Propose Capital Gains Tax As High As 43.4% For Wealthy - Bloomberg
- Intel (INTC) Tops Q1 EPS by 24c, Offers Guidance
- Snap (SNAP) Tops Q1 EPS by 5c, DAUs were 280 million, Offers Guidance
- Credit Suisse (CS) Falls 6% on 'Unacceptable Loss' as Exposure to Archegos Grew to More Than $20 Billion, Set to Raise Over $2 Billion to Support Liquidity
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced that it has entered into an accelerated share repurchase (“ASR”) agreement with JPMorgan Chase Bank, N.A. to repurchase $200 million of its common stock with available cash on hand.
Under the ASR agreement, the Company will pay $200 million in exchange for an initial delivery of 4,430,906 shares. The final number of shares to be repurchased by Domtar will be based on the average of the daily volume-weighted average stock prices of Domtar’s common stock during the valuation period of the agreement, less a discount and subject to adjustments. The resulting adjustments may affect the total amount expended by the Company or the aggregate number of shares it repurchases.
Domtar is funding the share repurchases with cash on hand, including cash received from the divestiture of its Personal Care segment closed on March 1, 2021.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Zymergen (ZY) IPO Opens 30% Higher
- Civista Bancshares (CIVB) Announces Share Repurchase Program
- Oxford Finance Welcomes Sunil Annapareddy to Healthcare Services Team
Create E-mail Alert Related CategoriesCorporate News, Hot Buybacks, Stock Buybacks
Related EntitiesJPMorgan, Stock Buyback
Sign 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!