Vontier Corp. (VNT) announced on Monday that it has entered into a $100 million accelerated share repurchase (ASR) agreement with Goldman Sachs Group Inc. (GS). The ASR is expected to be settled in the third quarter of 2024, using available cash.
This latest ASR transaction is part of Vontier's existing $500 million share repurchase program, which had approximately $290 million remaining as of August 1, 2024.
Upon completion of the accelerated share repurchase, Vontier is projected to have about $190 million left in its current repurchase authorization. The company intends to continue its repurchase activities periodically through open market transactions, 10b5-1 plans, future ASR agreements, or private negotiations.
