Helen Of Troy Announces $550 Mln Buyback - Quick Facts

(RTTNews) - Personal care products maker Helen of Troy Limited (HELE) said its Board of Directors has authorized the repurchase of $550 million of its outstanding common shares.

The move is in keeping with its stated intention to return to shareholders capital not otherwise deployed for strategic acquisitions.

The company will today commence a modified "Dutch Auction" tender offer to purchase up to $300 million of its common stock, subject to certain terms and conditions.

Helen of Troy plans to initiate a subsequent repurchase of an additional $250 million of its common stock over the next three years, at times and prices to be determined.

In total, the $550 million share repurchase plan represents 28.88 percent of the company's outstanding common stock, based upon the closing price on February 7. As of February 5, Helen of Troy had 32.091 million shares outstanding.