Constellation Brands Announces Accelerated Stock Buyback
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: GlobeNewswire
VICTOR, N.Y., June 30, 2021 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has entered into an accelerated share repurchase (“ASR”) agreement with Goldman Sachs & Co. LLC to repurchase $500.0 million of its Class A common stock (“Common Stock”). Under the ASR agreement, Constellation will receive approximately 1.7 million shares on July 2, 2021, representing approximately 80% of the expected share repurchases under the ASR agreement, based on the company’s June 29, 2021 closing stock price of $230.98. The repurchased shares will become treasury shares. The specific number of shares to be repurchased in the transaction is generally based upon the volume-weighted-average price of the Common Stock during the term of the ASR agreement, less a discount and is expected to be completed no later than October 2021. The purchase price for shares repurchased in the accelerated share repurchase transaction will
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Sec Filings
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- 4/23/24 - Form 10-K
- 4/19/24 - Form 144
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