Ball Corp. agreed to repurchase approximately $250 million of its outstanding common stock through an accelerated stock repurchase transaction with Crédit Agricole CIB. This transaction will utilize cash on hand and available borrowings.
The share repurchase is expected to begin immediately and will contribute to a significant reduction of Ball’s outstanding common stock. Final share counts will be based on the average trading price over the agreement period, with adjustments at the conclusion of the transaction.
“This share buyback, which is part of our previously announced planned purchases for the year, enables us to most efficiently deliver on our goal of returning at least $1.5 billion to shareholders by year-end,” said Daniel Fisher, chairman and chief executive officer.
Ball Corp., based in Broomfield, provides aluminum packaging solutions for various markets and reported 2024 net sales of $11.8 billion, excluding its divested aerospace business. The repurchase aligns with the company’s strategy to return value to shareholders.