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Jarden Corp Authorizes Share Repurchase Program To $500 Million And Uses $250 Million To Execute An Accelerated Share Repurchase Program

Thursday, 28 Feb 2013 07:37am EST 

Jarden Corp announced that the Board of Directors has authorized an increase to its current share repurchase program. The authorized share repurchase program is now $500 million. The new program includes the remaining $130 million of unused capacity under the Company's existing share repurchase program. In conjunction with the new program, Jarden has agreed to repurchase an aggregate of $250 million worth of common stock pursuant to Accelerated Stock Repurchase Agreements (ASR Agreement) with Barclays Bank plc. and JPMorgan Chase Bank, N.A. Jarden will fund the $250 million at the beginning of the ASR Agreement and will receive the majority of repurchased shares at the same time. The $250 million accelerated share repurchase program will be funded with cash on hand. 

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