Vontier Announces $100 Mln Accelerated Share Repurchase Agreement

(RTTNews) - Vontier Corp. (VNT) announced on Monday a $100 million accelerated share repurchase or ASR agreement with Goldman Sachs Group Inc. (GS)

The ASR is anticipated to be settled in the third quarter of 2024, using available cash.

The latest ASR transaction will be part of Vontier's ongoing $500 million share repurchase program, which had about $290 million left as of August 1, 2024.

Upon completing the accelerated share repurchase, Vontier is projected to have roughly $190 million remaining in its current repurchase authorization. The company plans to continue making repurchases periodically through open market transactions, 10b5-1 plans, future ASR agreements, or private negotiations.