Synopsys (SNPS) Initiates $200M Accelerated Share Repurchase Agreement

Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into accelerated share repurchase agreements (ASRs) with JPMorgan Chase Bank, National Association and MUFG Securities EMEA plc. to repurchase an aggregate of $200 million of Synopsys stock.

Under the terms of the ASRs, Synopsys will receive an aggregate initial share delivery of approximately 1.8 million shares, with the remainder, if any, to be settled on or before May 16, 2018, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASRs will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

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