Azek announces $600M stock repurchase plan

Azek announced that its board of directors authorized the company to repurchase up to $600M of the company’s Class A common stock in addition to the remaining approximately $75M available pursuant to the company’s prior authorization. The program allows the company to repurchase its shares opportunistically from time to time. Purchases may be effected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, accelerated share repurchases or tender offers, some of which may be effected through Rule 10b5-1 plans, or a combination of the foregoing. The timing of repurchases will depend upon several factors, including market and business conditions, and repurchases may be discontinued at any time.