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Ashland launches accelerated share buyback

10:32 AM MDT | May 21, 2013 | Vincent Valk

Ashland has entered into a $150-million accelerated share buyback program, with Citibank acting as the broker. Under the agreement, Citibank will deliver 1.3 million Ashland shares immediately at current market prices. Ashland is currently trading at around $90/share and has about 79 million shares outstanding.   The accelerated buyback is part of Ashland’s existing, ongoing $600-million buyback program. The term of the accelerated buyback will be about one to three months, Ashland...

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