Northrop Grumman Enters ASR Agreement To Repurchase $1 Bln Of Common Stock

(RTTNews) - Northrop Grumman Corp. (NOC) announced the company has entered into an accelerated share repurchase agreement with Goldman Sachs & Co. LLC to repurchase $1 billion of the company's common stock. The ASR will be completed under the company's current share repurchase authorization, under which $2.1 billion remained at Sept. 30, 2018.

Northrop Grumman will receive initial deliveries of approximately 3 million shares on Oct. 31, representing approximately 80 percent of the expected share repurchases under the ASR agreement, based on the company's closing price on Oct. 26, 2018.