Verisk Analytics announces $2.5B accelerated share repurchase transaction

Verisk Analytics (VRSK) announced that it has entered into accelerated share repurchase agreements, ASR agreements, with each of Citibank (C) and Goldman Sachs (GS) to repurchase an aggregate of $2.5 billion of the Company’s common stock. The ASR Agreements were entered into as part of the Company’s previously announced share repurchase program. The ASR Counterparties are expected to make an aggregate initial delivery of approximately 10.7 million shares of the Company’s common stock to the Company at the inception of the ASR Agreements. The final settlement of the transactions under the ASR Agreements is expected to occur during the Company’s fourth fiscal quarter ending December 31, 2023. Verisk may continue to repurchase shares in the open market from time to time subject to market and other conditions. After giving effect to the ASR Agreements, $941.3 million will remain available for share repurchases under the Company’s authorized share repurchase program.