This joint presentation by Matthews South, an independent capital markets advisor, and Wilson Sonsini’s Corporate Finance Group explores the increasing prevalence of accelerated share repurchases (ASRs) as a tool for public companies to return capital to their shareholders. The discussion will cover the core mechanics of ASRs, the recent market environment, key commercial objectives and terms, comparable structured alternatives such as Enhanced Open Market Repurchase, as well as applicable securities law, tax, regulation and compliance considerations. The presenters will provide insight informed by participation in hundreds of ASRs, in particular with regard to expected outcomes in different market environments, and the potential impact of unexpected transformative transactions during an ASR’s term and of expected regulatory changes.
Shelly Jackson
shelly.jackson@wsgr.comAndrew Ralston is senior counsel in Wilson Sonsini Goodrich & Rosati’s Boston office, where he leads the firm’s Derivatives practice. Andrew focuses on representing issuers and dealers in equity derivatives and corporate finance transactions, and enterprise clients in other derivatives and complex financing matters.