Kontoor Brands Expects To Enter $400M Accelerated Stock Repurchase Agreement
Upon closing of the Lee business divestiture, the Company intends to deploy the expected proceeds into a $400 million Accelerated Share Repurchase agreement, with the remaining proceeds allocated towards voluntary debt
Kontoor Brands is planning to use money from selling a business to buy back some of its own stock ($400 million worth) and pay down debt. When companies buy back their stock, it can mean they think the company is doing well and have extra cash to use.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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