KLA Enters ASR Agreements To Repurchase $3.0 Bln Of Common Stock

KLA Corp. (KLAC) has entered into accelerated share repurchase agreements with Goldman Sachs & Co. LLC and Citibank N.A. to repurchase $3.0 billion of the company's common stock. KLA will make payments in an aggregate amount of $3.0 billion to the Financial Institutions and will receive initial deliveries of approximately 6,549,000 shares of the company's common stock in the aggregate from the financial institutions, with any remaining shares expected to be delivered upon the final settlement under the ASRs, which is scheduled to occur in second quarter ending December 31, 2022.

The company noted that the ASRs were entered into pursuant to previously announced share repurchase programs, under which approximately $3.233 billion of share repurchase authorization will remain.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Centers for Disease Control and Prevention or CDC director, Rochelle Walensky, has initiated a reorganization of the public health agency noting that it failed to reliably meet expectations during the coronavirus pandemic period, reports said. The proposed changes for a reset in the agency are expected to help it respond quicker to new health threats. While reporting financial results for the second quarter on Thursday, department store chain Kohl's Corp. (KSS) slashed its adjusted earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now projects adjusted earnings in a range of $2.80 to $3.20 per share on a net... Apple Inc. is planning to hold a launch event on September 7 to unveil its latest iPhone 14 line, Bloomberg reported citing people with knowledge of the matter. The tech major is also expected to roll out its latest version of three Apple Watch models including Series 8. The new products, which also include multiple new versions of Macs, and low and high-end iPads, are likely to reach stores...
Follow RTT