Celanese Corp. (CE) Announces New $1.5B Buyback Plan
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Celanese Corporation Announces New $1.5 Billion Share Repurchase Authorization
July 17, 2017 7:25 PM EDTDALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today announced that its board of directors has approved a new $1.5 billion share repurchase authorization. The new share repurchase authorization represents approximately 11 percent of the companys shares outstanding. The timing of the buybacks will be partially based on the closing of the recently announced proposed tow joint venture with Blackstone.
The company has deployed $300 million in the first half of 2017 and is on pace to meet its $500 million share buyback commitment for 2017 which would exhaust the existing $1.0 billion repurchase authorization put... More
