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Ashland enters into plans to repurchase $250mn of stock
07 Aug '14
1 min read
Ashland Inc. announced that it has established 10b5-1 plans with each of Deutsche Bank Securities and JPMorgan Chase Bank, N.A., ("JPMorgan") to repurchase an aggregate of $250 million of Ashland's common stock.
These plans are part of Ashland's previously announced $1.35 billion share repurchase authorization and are in addition to the $750 million accelerated share repurchase (ASR) programs announced earlier this week.
Under terms of the 10b5-1 plans, the banks will purchase a pre-determined number of shares on various trading days dependent upon Ashland's prevailing stock price on that date. The term of the plans is through June 30, 2015, although they may be completed earlier based on market conditions and other factors.
About Ashland
Ashland Inc. is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Through our three commercial units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline - we use good chemistry to make great things happen for customers in more than 100 countries.
These plans are part of Ashland's previously announced $1.35 billion share repurchase authorization and are in addition to the $750 million accelerated share repurchase (ASR) programs announced earlier this week.
Under terms of the 10b5-1 plans, the banks will purchase a pre-determined number of shares on various trading days dependent upon Ashland's prevailing stock price on that date. The term of the plans is through June 30, 2015, although they may be completed earlier based on market conditions and other factors.
About Ashland
Ashland Inc. is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Through our three commercial units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline - we use good chemistry to make great things happen for customers in more than 100 countries.
Ashland
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