Ball Announces Accelerated Stock Repurchase of ~$125M

Ball Corporation BLL announced today that it has agreed to repurchase approximately $125 million of its outstanding common stock in a privately negotiated accelerated stock repurchase transaction with Barclays Capital using cash on hand and available borrowings. Subject to certain conditions, the transaction will commence on Aug. 3 and reduce Ball's outstanding common stock by a total of approximately 3.4 million shares. "This accelerated stock repurchase transaction is part of our ongoing strategy of returning the majority of the company's 2011 free cash flow to shareholders," said Scott C. Morrison, senior vice president and chief financial officer.