Salesforce, Inc. (CRM), a tech company, Monday commenced the prepayment and initial delivery of around 103 million shares under its previously announced $25 billion accelerated share repurchase or ASR agreements that it entered on March 11.
"This transaction, the largest ASR in history, represents the immediate execution of half of the $50 billion aggregate Share Repurchase Program authorized by Salesforce's Board of Directors in February 2026.", the company said in a statement.
The final number of shares to be repurchased will be based on the volume-weighted average price of Salesforce's common stock during the term of the transaction and the final settlement is expected to occur in the third or fourth quarter of fiscal 2027.
In pre-market activity, CRM shares were trading at $195.10, up 1.19% on the New York Stock Exchange.
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