Ferguson PLC (FERG) has released an update.
Ferguson PLC has announced the continuation of its $4.0 billion share repurchase program with a new tranche of $235 million, to be executed by J.P. Morgan Securities LLC between June and September 2024. The buyback is part of a broader strategy to reduce company capital and potentially satisfy future share awards. Additionally, Ferguson PLC is set to become a wholly-owned subsidiary of Ferguson Enterprises Inc. following a merger effective August 1, 2024.
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