Synopsys initiates $100m accelerated share repurchase agreement

Synopsys has announced that it has entered into an Accelerated Share Repurchase agreement (ASR) with Wells Fargo Bank NA, to repurchase an aggregate of $100 million of Synopsys stock.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 1.39 million shares, with the remainder to be settled on or before February 16^th, 2017, upon completion of the repurchase. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys’ volume-weighted average share price during the repurchase period, less a discount.