Albertsons announces $750M accelerated share repurchase agreement

Albertsons (ACI) announced that it has entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association to repurchase $750M of shares of the company’s common stock and increased its board authorized share repurchase program from $2B to $2.75B, inclusive of the ASR agreement. Under the ASR agreement, on October 15, the company will pay $750M to the dealer and expects to receive an initial delivery of approximately 80% of the shares of the company’s common stock initially underlying the ASR agreement. The total number of shares to be repurchased by the company pursuant to the ASR agreement will be based on the volume-weighted average price of the company’s common stock on specified dates during the term of the ASR agreement, less a discount, and subject to customary adjustments under the terms and conditions of the ASR agreement. The transactions under the ASR agreement are expected to be completed by no later than the first quarter of 2026.