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Wednesday, 21 April 2021 21:52

Axalta Coating Systems Announces $625M Increase to Share Repurchase Program Authorization

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Axalta, a global coatings company, on April 21 announced its Board of Directors authorized an increase in its common share repurchase program of $625 million, bringing the total size of the program to $1.3 billion, of which Axalta has already purchased approximately $500 million.

Axalta expects share repurchases will continue to be made from time to time in the open market or through privately negotiated transactions, or otherwise, subject to applicable laws, regulations and approvals.

 

The pace of repurchase activity will be subject to the discretion of Axalta, and will be based upon market conditions and other capital allocation decisions, while incorporating key factors including cash balances and needs of the business, cash flow from operations, stock price and acquisition opportunities. There is no expiration date on the share repurchase program.

 

Source: Axalta

 

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