Verisk Enters $1.5 Bln Accelerated Share Repurchase Agreement
(RTTNews) - Verisk Analytics, Inc. (VRSK), a data analytics and technology provider, on Monday announced accelerated share repurchase agreements to buy back an aggregate of $1.5 billion of its stock from HSBC Bank USA, National Association and Wells Fargo Bank, National Association.
The counterparties are expected to deliver about 7 million shares initially at the inception of the agreements.
The final settlement is expected no later than the third fiscal quarter ending September 30.
The company said about $1 billion will remain available under the company's existing share repurchase authorization following the ASR agreements.
In the pre-market trading, Verisk Analytics is 1.36% higher at $184.98 on the Nasdaq.
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