Vertiv Holdings announces $3B share repurchase program

Vertiv announced that effective immediately, its board of directors approved a share repurchase program authorizing the company to repurchase up to $3B of common stock over the next four years. The program is intended to provide the company with flexibility in returning capital to shareholders. Vertiv expects that the repurchases will be effected from time-to-time through open market purchases, privately negotiated transactions, Rule 10b5-1 plans, accelerated stock repurchases, block trades, derivative contracts or otherwise, including in compliance with Rule 10b-18. The specific timing of any repurchases will be determined at management’s discretion and will depend on a number of factors, including available liquidity, the company’s stock price, the company’s financial outlook, and alternative investment options. The share repurchase program does not obligate Vertiv to repurchase any specific dollar amount or number of shares and the board’s authorization of the program may be modified, suspended or discontinued at any time.