Synopsys launches $300M accelerated share buyback
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SynopsysÂ (NASDAQ:SNPS) said Friday it entered into an accelerated share repurchase agreement with Wells Fargo Bank to buy back about $300 million of its stock.
SharesÂ +2.9%Â at $333.07 in early trading session.
Under the terms of the ASR, Synopsys will receive initial share delivery of about 787,000 shares, with the remainder, if any, to be settled on or before February 10, 2023, upon completion of the repurchases.