Masonite Enters $100M ASR Agreement

  • Masonite International Corp DOOR has entered an accelerated share repurchase agreement with Morgan Stanley & Co. LLC. to repurchase an aggregate of $100 million of shares.
  • The ASR Agreement is part of Masonite's existing share repurchase program, which after giving effect to the ASR, has ~$256 million remaining for future buyback.
  • Masonite will receive an initial delivery of ~848 thousand common shares in exchange for a prepayment of $100 million. These shares will be retired in the first quarter of 2022.
  • Price Action: DOOR shares are trading higher by 1.46% at $95.71 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsBuybacksBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!