On April 14, 2015, as part of Global Payments' (NYSE: GPN) previously announced, Board-approved share repurchase program, the Company entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. to repurchase $100 million of the Company’s outstanding common stock (the “ASR”). The Company expects to receive an initial delivery of shares having a value of approximately $80 million. The total number of shares that the Company will repurchase under the ASR will be determined upon final settlement based generally on the volume-weighted average price of the Company’s common stock during the repurchase period. Final settlement of the ASR is expected to occur no later than June 16, 2015. All of the shares the Company repurchases will be retired.