Allstate in $750 Million Accelerated Share Repurchase With JPMorgan Chase
23 Agosto 2021 - 2:38PM
Dow Jones News
By Colin Kellaher
Allstate Corp. on Monday said it will buy back $750 million in
common stock under an accelerated share-repurchase agreement with
JPMorgan Chase.
The Northbrook, Ill., insurance company said it expects to
receive the bulk of the shares to be repurchased under the
agreement immediately, with the final per-share purchase and number
of shares to be determined at settlement.
Allstate, which currently has around 296 million shares
outstanding and a market capitalization of nearly $39.8 billion
based on Friday's closing price of $134.56, said the agreement is
part of the $5 billion repurchase program it announced earlier this
month.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 23, 2021 08:33 ET (12:33 GMT)
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