Thomson Reuters Initiates 10 Million Common Share Repurchase
- The share repurchase will be done in accord with four third-party sellers, with a targeted estimate of 10 million common shares.
Thomson Reuters (NYSE: TRI) has announced an additional share repurchase facility, this time with the intent to buy up to 10 million common shares via private agreements, according to a Thomson Reuters statement.
The share repurchase will be done in accord with four third-party sellers, with the targeted 10 million shares falling well within a previously set threshold of 30 million common shares between May 28, 2015 and May 27, 2016, as stipulated by Thomson Reuters’ existing normal course issuer bid (NCIB).
The move was made possible after one of Canada’s paramount financial regulators, the Ontario Securities Commission (OSC), issued three issuer bid exemption orders, allowing Thomson Reuters to make private agreement purchases for up to 10 million common shares. Earlier this year in May, the group unveiled plans to buy $1.0 billion in common shares by the end of 2016.
In particular, Thomson Reuters share price purchases will be dictated by private agreements at a discount to the prevailing market price on the Toronto Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin (TSX) at the time of purchase.
At the time of writing, shares of Thomson Reuters (NYSE:TRI) have settled at $36.97 during pre-market trading Wednesday. The current price is well off of a 52-week high of $42.64, having retreated from the $41.00 handle during August on mounting market headwinds.
Thomson Reuters recently made headlines after it announced an addition of FX trading capabilities for corporate treasurers on its flagship desktop offering, Eikon.
Thomson Reuters (NYSE: TRI) has announced an additional share repurchase facility, this time with the intent to buy up to 10 million common shares via private agreements, according to a Thomson Reuters statement.
The share repurchase will be done in accord with four third-party sellers, with the targeted 10 million shares falling well within a previously set threshold of 30 million common shares between May 28, 2015 and May 27, 2016, as stipulated by Thomson Reuters’ existing normal course issuer bid (NCIB).
The move was made possible after one of Canada’s paramount financial regulators, the Ontario Securities Commission (OSC), issued three issuer bid exemption orders, allowing Thomson Reuters to make private agreement purchases for up to 10 million common shares. Earlier this year in May, the group unveiled plans to buy $1.0 billion in common shares by the end of 2016.
In particular, Thomson Reuters share price purchases will be dictated by private agreements at a discount to the prevailing market price on the Toronto Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin (TSX) at the time of purchase.
At the time of writing, shares of Thomson Reuters (NYSE:TRI) have settled at $36.97 during pre-market trading Wednesday. The current price is well off of a 52-week high of $42.64, having retreated from the $41.00 handle during August on mounting market headwinds.
Thomson Reuters recently made headlines after it announced an addition of FX trading capabilities for corporate treasurers on its flagship desktop offering, Eikon.