DuPont launches new $2B accelerated share repurchase transaction

DuPont announced completion of the $3.25B accelerated share repurchase transaction launched last November. Additionally, the company today announced that it has entered into new accelerated share repurchase agreements with multiple counterparties to repurchase an aggregate of $2B of common stock. In connection with completion of the $3.25B ASR transaction, the company received and retired an additional 8.0M shares of DuPont common stock. In total, the company received and retired 46.8M shares of DuPont common stock under the $3.25B ASR transaction at an average price of $69.44 per share. In connection with the launch of the $2B ASR transaction, this week the company will pay an aggregate of $2.0B and will receive and retire 21.2M shares of DuPont common stock, representing 80% of the transaction value based on DuPont’s closing share price on September 5. “The final number of shares to be received and retired under the $2B ASR transaction will be determined upon completion of the transaction and will be based on the total transaction value and the volume-weighted average share price of DuPont common stock during the term of the transaction. The company expects to complete the $2B ASR transaction during the first quarter of 2024,” DuPont stated.