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Ashland launches accelerated share buyback

9:46 AM MDT | May 31, 2013 | —Vincent Valk

Ashland has entered into a $150-million accelerated share buyback program, with Citi acting as the broker. Under the agreement, Citi will deliver 1.3 million Ashland shares at current market prices. The term of the accelerated buyback will be about one to three months, Ashland says. At CW press time, Ashland was trading at around $90/share and had about 79 million shares outstanding. The accelerated buyback is part of Ashland’s $600-million buyback program. The current buyback program will expire on 31 December 2014. The company’s board has also...

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