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Clearwater Paper Corp Announces $50 Million Accelerated Stock Buyback


Friday, 1 Mar 2013 08:15am EST 

Clearwater Paper Corp announced that it entered into an accelerated stock buyback agreement (ASB agreement) with Goldman, Sachs & Co. to repurchase an aggregate of $50 million of Clearwater Paper common stock. The Company will acquire the common shares pursuant to the ASB agreement as part of $100 million stock repurchase program. This program, which was announced on January 17, 2013, in conjunction with the sale of $275 million of 4.5% senior notes by the Company, is targeted to be completed in 2013. The remainder of the repurchases under this program may be made, at management's discretion, in both public market and private transactions and may include the use of derivative contracts or additional structured share repurchase agreements. 

Company Quote

65.55
-0.37 -0.56%
11:16am EDT