Kroger (KR) said late Thursday that it agreed to $5 billion accelerated share repurchase deals with Wells Fargo Bank, National Association, and Citibank.
The buyback agreements are under the company's $7.5 billion share repurchase program and will be funded with existing cash at hand, Kroger added.
Under the agreements, Kroger will pay dealers $5 billion for an initial delivery of about 65.6 million shares on Dec. 20 and the final settlement no later than fiscal Q3.
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