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Masco announces $400M accelerated share repurchase

Nov. 27, 2019 11:08 AM ETMasco Corporation (MAS) StockBy: Niloofer Shaikh, SA News Editor
  • Masco Corporation (NYSE:MAS +0.4%) has entered into an accelerated share repurchase agreement with Royal Bank of Canada to repurchase $400M of the company's common stock.
  • As per the ASR agreement, Masco will receive initial delivery of 7.3M shares on November 26, 2019, representing ~85% of the number of shares of common stock initially underlying the ASR agreement.
  • The transaction is expected to be completed no later than February 12, 2020.

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