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Victoria’s Secret authorizes $125M accelerated share repurchase program
The Fly

Victoria’s Secret authorizes $125M accelerated share repurchase program

Victoria’s Secret plans to enter into an accelerated share repurchase agreement with Goldman Sachs to repurchase $125N of the company’s common stock. The company will make an initial payment of $125M to Goldman Sachs and will receive an initial delivery of approximately 2.5 million shares of the company’s common stock on February 3. The final number of shares to be repurchased will be based on the volume-weighted average price of the company’s common stock during the term of the ASR less a discount and subject to adjustments pursuant to the terms of the ASR. The final settlement of the ASR is expected to be completed in Q2. The planned ASR is a component of a broader share repurchase program authorizing the repurchase of up to $250M of the company’s common stock.

Published first on TheFly

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