GEF - Greif announces $150M stock buyback plan
- Greif ( NYSE: GEF ) has announced a $150M stock buyback plan.
- The industrial packaging solutions company entered into an accelerated share repurchase (ASR) agreement with Bank of America, N.A. to buyback $75M of its Class A stock.
- Additionally, it plans to repurchase $75M of its Class A and Class B stock in open market purchases over the next 12 to 18 months.
- Under the ASR, Greif ( GEF ) will receive today an initial delivery of ~80% of the expected share repurchases (~1M Class A shares), with any remaining shares expected to be delivered by the end of the company's first fiscal quarter of 2023.
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Greif announces $150M stock buyback plan