Thomson Reuters to buy back up to six million shares
Wednesday 1 March 2017
Thomson Reuters announced it intends to purchase up to six million of its common shares through private agreements with two armʹs-length third-party sellers.
The shares will count towards the company’s existing arrangement which allows it to buy back up to 37.5 million common shares traded on the Toronto Stock Exchange between 30 May 2016 and 29 May 2017.
These private agreement purchases are part of the company’s plan announced last month to purchase up to an additional US$1 billion of its common shares.
The price that Thomson Reuters will pay for its common shares through private agreements will be at a discount to the prevailing market price on the Toronto Stock Exchange (TSX) at the time of purchase and they may be made in one or more trades over time.
The company said that, to date, Thomson Reuters has purchased 6.5 million common shares pursuant to private agreements. The number of common shares which may be purchased under private agreements may not exceed 12,500,000, being one-third of the total number of common shares which may be purchased under the arrangement. ■
- Thomson Reuters