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Cooper Repurchasing $200 Million In Stock

Cooper will receive approximately 80 percent of the number of shares to be repurchased at the inception of the ASR program, or approximately 5.6 million shares, the tiremaker said.

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From Tire Review
 
FINDLAY, Ohio – Cooper Tire & Rubber Co. has entered into an accelerated share repurchase (ASR) program with J.P. Morgan Chase Bank. With ASR program, the tiremaker plans to buy back roughly $200 million of its common stock.
 
Cooper will receive approximately 80 percent of the number of shares to be repurchased at the inception of the ASR program, or approximately 5.6 million shares, the tiremaker said. The total number of shares to be repurchased will be determined on final settlement.
 
The term of the ASR is scheduled to run from Aug. 7, 2014, until February 2015.
 
 

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