Brown-Forman has announced that its Board of Directors has authorised the repurchase of up to $250 million of its outstanding shares. The buy-back will take place over the next 12 months, subject to market conditions.
Under this plan, the company can repurchase shares from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, terminated or extended by the company at any time without prior notice.
Brown-Forman Corporation is a producer and marketer of brands including Jack Daniel’s, Southern Comfort, Finlandia and Canadian Mist.