Verisk Analytics Inks $2.5B Accelerated Share Repurchase Agreement

by Shivani Kumaresan, Benzinga Staff Writer

March 7, 2023 10:18 AM | 1 min read |

Verisk Analytics Inc VRSK has entered into accelerated share repurchase agreements (ASR) with Citibank, N.A. and Goldman Sachs & Co. LLC.
Under the agreement, Verisk will repurchase an aggregate of $2.5 billion of its common stock.
The ASR Agreements were entered into as part of the company's previously announced share repurchase program.
The ASR counterparties are expected to make an aggregate initial delivery of approximately 10.7 million shares.
The final settlement of the transactions is expected to occur in the fourth-quarter ending Dec. 31, 2023.
After giving effect to the ASR Agreements, $941.3 million will remain available for share repurchases under the company's authorized share repurchase program.
Price Action: VRSK shares are trading lower by 0.40% at $186.95 on the last check Tuesday.