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via businesswire.comBusiness & Companies

Graco announces $600 million accelerated share repurchase agreement

FROM THE WIRE · BUSINESSWIRE.COM

MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE: GGG) today announced that it has entered into an accelerated share repurchase (“ASR”) agreement with Bank of America, N.A. to repurchase $600 million of the Company's shares of common stock. The ASR represents approximately 5% of…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishA buyback of this size, about 5% of shares outstanding, supports the stock.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Graco entered an ASR agreement with Bank of America for $600 million.
  2. 02The repurchase represents about 5% of outstanding shares.
  3. 03It will be funded with cash on hand and the existing revolving credit facility.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Graco Inc.GGGStock69.70 USDMarket closedtoday -0.17%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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