What Is An Asr Agreement

15 Oct

MOUNTAIN VIEW, Calif., Dec. 16, 2020 /PRNewswire/ — Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an Accelerated Share Repurchase Agreement (ASR) with Mizuho Markets Americas LLC to repurchase synopsy shares totaling $250 million. Under the terms of the ASR agreements, Intel will receive an initial share delivery of approximately 166 million shares, with final settlement expected by the end of 2020. The final number of shares to be reinstated by Intel is based on the volume-weighted average price of Intel`s common shares during the term of the Agreements, less a discount and subject to adjustments. In late 2015, United Technology entered into accelerated share repurchase agreements with Deutsche Bank AG and J.P.Morgan Chase, each of which delivered $3 billion worth of shares under the program. As can be seen in the snapshot above, United Technologies has entered into an “accelerated buyout agreement” with two banks (Deutsche Bank AG and J.P.Morgan Chase) to buy back $6 billion of shares in the company. Is accelerated buyback different from buybacks on the open market? This press release contains forward-looking information. Words such as “anticipate,” “assume,” “estimate,” “expect,” “seek,” “anticipate,” “predict,” “intend,” “plan,” “believe,” “potential,” “may,” “should” and similar expressions may identify forward-looking information. Forward-looking information contained in these documents includes, but is not limited to: future results, including revenue and earnings growth, and advance purchases under the accelerated share repurchase agreement. SANTA CLARA, California, 19.

August 2020 – Intel Corporation announced today that it is cancelling Accelerated Share Repurchase Agreements (ASRs) to repurchase a total of $10 billion of Intel common stock. Upon completion of these agreements, Intel will have repurchased a total of approximately $17.6 billion in shares as part of the planned $20 billion share repurchases announced in October 2019. Intel funds share buybacks under ASR arrangements with existing cash. Strong operating results for the first half of 2020 contributed to a healthy liquidity balance sheet, giving Intel the opportunity to invest in the company in times of economic uncertainty while returning capital to shareholders through dividends and share buybacks. Intel intends to close the $2.4 billion balance of its planned $20 billion share buybacks and return to its historical capital repatriation practices as markets stabilize. Under the terms of the agreement, Brink`s will invest $50 million in J.P. Morgan and will receive approximately 850,000 shares based on market prices, representing approximately 80% of the total shares that the Company intends to repurchase under the ASR Agreement. Brink`s expects to receive additional shares representing the remaining 20% of the remaining shares under the ASR Agreement no later than November 2, the date on which the ASR Transaction is expected to close. .