Investors Bancorp, Inc. Accelerates Capital Management Plans With Agreement to Repurchase Shareholder's 27.3 Million Shares
Investors Bancorp, Inc. (ISBC)
Last investors bancorp, inc. earnings: 4/29 05:40 pm
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Source: PR Newswire
SHORT HILLS, N.J., Dec. 18, 2019 /PRNewswire/ -- Investors Bancorp, Inc. (NASDAQ - ISBC) (the "Company") announced today that it has entered into an agreement to repurchase all of the shares of its common stock owned by Blue Harbour Group and its affiliated investment funds ("Blue Harbour") for an aggregate purchase price of approximately $335.7 million. Specifically, Blue Harbour sold 27,318,628 shares of common stock to the Company in a private transaction for $12.29 per share, which represents the volume weighted average price of such shares on the date of the agreement.In conjunction with the transaction, Peter H. Carlin, Blue Harbour's designated representative on the Board of Directors of the Company (the "Board"), has resigned from the Board. Mr. Carlin advised the Company that he has no disagreement with the Company or the Board.Kevin Cummings, Chairman and Chief Executive Officer of Investors Bancorp, stated: "Blue Harbour has been a great partner and lead shareholder of ou
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