Crown Holdings Announces Stock Repurchase Authorization of $250 Million
Stock repurchases under this program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.
The repurchase authorization is being put in place today as a result of the extraordinary market conditions due to the current coronavirus (COVID-19) crisis and repurchases may be made from time-to-time as conditions warrant. The previously announced comprehensive Board-led review of the Company's portfolio and capital allocation/return is ongoing and it is expected that this short-term repurchase authorization will ultimately be superseded by the review.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including, without limitation, the outcome and ultimate impact of the ongoing Board-led review, that the Company is not obligated and may not acquire any shares of common stock and the share repurchase plan may be suspended or terminated at any time at the Company's discretion. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's Form 10-K Annual Report for the year ended
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