- Verisk Analytics Inc (NASDAQ:VRSK) has entered into accelerated share repurchase agreements (ASR) with Citibank, N.A. and Goldman Sachs & Co. LLC.
- Under the agreement, Verisk will repurchase an aggregate of $2.5 billion of its common stock.
- The ASR Agreements were entered into as part of the company’s previously announced share repurchase program.
- The ASR counterparties are expected to make an aggregate initial delivery of approximately 10.7 million shares.
- The final settlement of the transactions is expected to occur in the fourth-quarter ending Dec. 31, 2023.
- After giving effect to the ASR Agreements, $941.3 million will remain available for share repurchases under the company’s authorized share repurchase program.
- Price Action: VRSK shares are trading lower by 0.40% at $186.95 on the last check Tuesday.
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