Premier Inc (PINC) has released an update to notify the public and investors about an entry into a material definitive agreement.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Premier, Inc. has initiated a $400 million Accelerated Share Repurchase (ASR) with Bank of America as part of a larger $1 billion share buyback plan. The company will pay Bank of America $400 million and initially receive a portion of its common stock, with the final number of shares to be repurchased determined by the average share price, less a discount. The ASR transaction is set to be finalized in the first quarter of Premier’s 2025 fiscal year, potentially involving additional share deliveries or cash payments, depending on the final settlement conditions.
For further insights into PINC stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
