Ashland’s $500 mn accelerated share repurchase agreement with Goldman

Ashland’s $500 mn accelerated share repurchase agreement with Goldman

7:10 AM, 18th November 2015
Ashland’s $500 mn accelerated share repurchase agreement with Goldman

COVINGTON, US: Ashland Inc said it has entered into an un-collared accelerated share repurchase (ASR) agreement with Goldman Sachs & Co to repurchase an aggregate of $500 million of Ashland’s common stock. Ashland’s board of directors approved a $1 billion share repurchase authorization in April, which expires December 2017.

The company has agreed to repurchase an aggregate of $500 million of its common stock from Goldman Sachs, with an initial delivery of approximately 3.9 million shares. The ASR agreement is scheduled to terminate no later than May 2016.

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