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Howmet Aerospace Signs $200 Million Accelerated Share Repurchase Deal

05/11/2021 04:24

08:14 AM EDT, 05/11/2021 (MT Newswires) -- Howmet Aerospace (HWM) has signed an accelerated share repurchase agreement with Morgan Stanley & Co. to repurchase $200 million of the aerospace company's common stock.

Under the terms of the deal, Howmet Aerospace will receive the first delivery of approximately 4.9 million shares Tuesday, with

the final number to be repurchased based on the volume-weighted average price of Howmet's stock during the term of the transaction, minus a discount. The deal is expected to be completed in Q2.

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