United Therapeutics to Repurchase $478 Million of Shares
MT Newswires Live
Sep 08
United Therapeutics (UTHR) said Tuesday that it will use the remaining $477.6 million of its $2 billion share repurchase authorization through an accelerated share repurchase agreement with Citigroup's (C) Citibank.
United said it will pay Citibank $477.6 million this week and initially receive shares representing 75% of the expected total repurchase.
The final number of shares will depend on its average stock price during the accelerated share repurchase, less a discount, United said.
Final settlement is expected in Q4, and the additional buyback will bring total shareholder returns to $4 billion in 2.5 years, United said.
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