FedEx Initiates $1.0 Billion Accelerated Share Repurchase Agreement

As part of its commitment to enhance capital returns to stockholders, FedEx Corp. (NYSE: FDX) today announced that it has entered into an accelerated share repurchase (“ASR”) agreement with Mizuho Markets Americas LLC (“Mizuho”) to repurchase $1.0 billion of FedEx’s common stock as part of the company’s previously announced share repurchase program. Under the terms of the ASR agreement, FedEx will pay $1.0 billion to Mizuho and receive an initial share delivery of approximately 3.2 million shares on December 28, 2023, with the remainder of the shares, if any, to be delivered no later than February 29, 2024. The total number of shares purchased by FedEx pursuant to the ASR agreement will be based on an average of the volume-weighted average prices of FedEx’s common stock during the term of the ASR agreement, less a discount.
more at: https://investors.fedex.com/news-and-events/investor-news/investor-news-details/2023/FedEx-Initiates-1.0-Billion-Accelerated-Share-Repurchase-Agreement-as-Part-of-Its-Commitment-to-Enhance-Capital-Returns-to-Stockholders/default.aspx

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