FedEx: accelerated share repurchase agreement

(CercleFinance.com) - FedEx announced Tuesday that it has entered into an accelerated share repurchase (ASR) agreement with Mizuho Markets Americas to repurchase $1 billion of FedEx common stock, as part of the logistics group's previously announced program.


The latter will pay $1 billion to Mizuho and receive an initial delivery of approximately 3.2 million shares on December 28, with the remaining shares, if any, to be delivered by February 29, 2024.

"The total number of shares purchased by FedEx under the ASR agreement will be based on an average of the volume-weighted average prices of the shares during the term of the agreement, less a discount," it says.

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