ABC authorizes special $650 million share repurchase program
VALLEY FORGE, Pa. — AmerisourceBergen on Monday announced that its board of directors has authorized a special $650 million share repurchase program intended to supplement the company’s previously announced warrant hedging strategy. The special program will be used to mitigate the potentially dilutive effect on the ownership interests of its then-existing stockholders that may result from the issuance of common stock upon exercise of the warrants issued in March 2013.
As previously disclosed, subsidiaries of Walgreens and Alliance Boots were collectively issued warrants to purchase up to 22.7 million shares of the company’s common stock at an exercise price of $51.50 per share exercisable during a six month period beginning in March 2016 and warrants to purchase up to 22.7 million shares of the company’s common stock at an exercise price of $52.50 per share exercisable during a six-month period beginning in March 2017.
Once completed, the share repurchases under the special program, together with the issuer capped call option transactions described in the company’s form 10-Q for the fiscal quarter ended March 31, are expected to mitigate approximately 80% of the potentially dilutive effect that the issuance of shares of the company’s common stock upon exercise of the warrants could have. The company will continue to explore additional opportunities to mitigate any remaining potentially dilutive effect of the warrants.
Share repurchases under the special program are expected to take place over an extended period of time, subject to market conditions.
Actress Tracee Ellis Ross, SoftSheen-Carson team up for hair care video
NEW YORK — Actress Tracee Ellis Ross has teamed up with ethnic hair care brand SoftSheen-Carson to debut a video titled, "Optimum Amla Legend #LegendaryStyle."
In the video, Ross sits down with Optimum Salon Haircare artistic style director and stylist to the stars Johnny Wright to dish on all things hair and their favorite new products from the Optimum Amla Legend Rejuvenating Ritual collection.
While Ross adds her comedic flare to the interview, Wright provides hair tips, to deliver an informative yet entertaining video in celebration of the newest innovations from the Optimum Salon Haircare Amla Legend Rejuvenating Ritual, a product collection infused with Amla oil.