TKO to Repurchase Up to $1 Billion Worth of Common Shares

MT Newswires Live03-10

TKO (TKO) said Tuesday it will buy back up to $1 billion worth of common shares, including $800 million through an accelerated share repurchase agreement and up to $200 million via a 10b5-1 trading plan.

The repurchases will fall under its previously announced $2 billion share repurchase authorization, the company said.

Under the accelerated share repurchase plan, the company will pay $800 million to Morgan Stanley & Co. LLC, a unit of Morgan Stanley (MS), for an initial 3.1 million shares. The deal is expected to close in June.

The company added it will conduct buybacks under the 10b5-1 plan after transactions under the accelerated share repurchase agreement are completed.

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