CRH PLC (NYSE: CRH) inked a pact with Citigroup Global Markets Inc. to repurchase ordinary shares listed on the New York Stock Exchange on its behalf for an aggregate maximum consideration of $300 million.
The maximum number of ordinary shares that may be acquired pursuant to the buyback is 18 million.
The buyback will commence on December 21, 2023, and end by February 28, 2024.
Between September 25, 2023, and December 20, 2023, 17.1 million ordinary shares listed on the New York Stock Exchange and on the London Stock Exchange were repurchased by the firm.
This $300 million tranche is the final stage of the wider $3 billion program announced on March 2, 2023.
The company was recently in the headlines, where it and the Barro Group disclosed a deal to acquire Adbri Ltd for a cash price of A$3.20 per share.
The acquisition price values Adbri at an equity valuation of A$2.1 billion ($1.4 billion) on a 100% basis.
Last month, CRH inked a deal with building materials manufacturer Martin Marietta Materials, Inc. MLM to acquire its South Texas cement business and related concrete operations for $2.1 billion in cash.
Price Action: CRH shares are trading higher by 1.25% to $67.92 premarket on the last check Thursday.
Photo via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
