- FedEx Corp (NYSE:FDX) has entered into an accelerated share repurchase agreement (ASR) with Morgan Stanley & Co. LLC.
- Under the terms of the ASR, FedEx has agreed to repurchase an aggregate of $1.5 billion of stock, with an initial delivery of approximately 7.9 million shares.
- The company expects to complete the purchases under the ASR before the end of its current fiscal year.
- Also Read: FedEx ‘Surprisingly’ Leaves Out Details On What Drove Earnings Miss, Analyst Says
- The company held $6.8 billion in cash and equivalents as of August 31, 2022.
- Price Action: FDX shares are trading higher by 4.63% at $158.48 on the last check Tuesday.
Sorrento Announces Arbitrator In Nantcell/NANTibody Arbitration Issued Award Granting Contractual Damages, Pre-award Interest Of $156.8M To Nantcell; Award Also Held That Co Has No Further Obligations Under Exclusive License Agreement With NANTibody
As previously disclosed, Sorrento Therapeutics, Inc. (“Sorrento” or the “Company”) has been engaged in arbitration before the American Arbitration Association against NantCell, Inc.
