An announcement from United Therapeutics (UTHR) is now available.
United Therapeutics Corporation has initiated a $1 billion buyback of its common stock, engaging in an accelerated share repurchase agreement with Citibank. The company will make an upfront payment of $1 billion and initially receive over 3 million shares. The final number of shares repurchased will depend on the average share price during the buyback period, with the final settlement expected in the second and third quarters of 2024. This strategic move aims to enhance shareholder value and reflects the company’s confidence in its financial strength.
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