Dunkin Brands 8-K Filing Shows Accelerated Buyback Plan With Goldman Sachs

On February 5, 2015, Dunkin' Brands Group, Inc. (the "Company) entered into a $400.0 million accelerated share repurchase agreement (the "ASR Agreement") with Goldman, Sachs & Co. ("Goldman"). The Company will acquire the shares under the ASR Agreement as part of its previously announced $700.0 million share repurchase program. Pursuant to the terms of the ASR Agreement, on February 10, 2015, the Company will pay Goldman $400.0 million in cash and will receive approximately 6,950,000 of the Company's common stock. At settlement, Goldman may be required to deliver additional shares of common stock to the Company, or, under certain circumstances, the Company may be required to deliver shares of its common stock or may elect to make a cash payment to Goldman, based generally on the average of the daily volume-weighted average prices of the Company's common stock during the term of the ASR Agreement. The ASR Agreement contains provisions customary for agreements of this type, including provisions for adjustments to the transaction terms, the circumstances generally under which the ASR Agreement may be accelerated, extended or terminated early by Goldman and various acknowledgements, representations and warranties made by the parties to one another. Final settlement of the ASR Agreement is expected to be completed in June 2015, although the settlement may be accelerated at Goldman's option.