Broomfield-based Ball Corp. announced today that it has agreed to repurchase approximately $100 million of its outstanding common stock in a privately negotiated accelerated stock repurchase transaction with Goldman, Sachs & Co. using cash on hand and available borrowings.
Subject to certain conditions, the transaction will begin today and reduce Ball’s outstanding common stock by a total of approximately 2.8 million shares.
“Given our strong free cash flow and flexible capital structure, this accelerated stock repurchase transaction demonstrates our company’s ability to continue its consistent, balanced capital deployment strategy of returning long-term value to our shareholders,” said Scott C. Morrison, senior vice president and chief financial officer.
