Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Clearwater Paper Reports $50 Mln Accelerated Share Buyback - Quick Facts

RELATED NEWS
Trade CLW now with 

Clearwater Paper Corp. (CLW: Quote) has reached an accelerated stock buyback agreement or "ASB agreement" with Goldman, Sachs & Co. to buy back an aggregate of $50 million of Clearwater Paper stock. As part of its $100 million stock repurchase program, the company would buy the common shares as per the ASB agreement.

This program, 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 over in 2013. The remainder of the repurchases under this program may be made, at management's discretion, in both public market and private transactions, are subject to certain limitations, and may include the use of derivative contracts or additional structured share repurchase deals.

Pursuant to the ASB agreement, the company would pay $50 million to Goldman, Sachs & Co. and would receive a majority of the shares underlying the ASB agreement, from Goldman, Sachs & Co. on March 6, 2013. The remaining shares to be bought back under the ASB agreement, if any, would be generally based on the daily volume-weighted average price of Clearwater Paper stock during the term of the ASB agreement.

Click here to receive FREE breaking news email alerts for Clearwater Paper Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.