10th May 2016 16:38
LONDON (Alliance News) - Reckitt Benckiser Group PLC on Tuesday said it is set to buy back up to 2.5 million shares in continuation of a programme put in place in December.
The repurchase of the 2.5 million shares will begin on Wednesday this week, and is expected to end by June 29 and no later than July 7, the consumer goods company said, following an agreement with US bank Morgan Stanley.
"Morgan Stanley will make its trading decisions in relation to the purchase of the company's securities independently of, and uninfluenced by the company," Reckitt said.
On December 30, Reckitt announced the beginning of its 2016 share buyback programme to repurchase shares for up to GBP800 million in total.
Shares in Reckitt closed up 0.5% at 6,869.40 pence Tuesday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
RB..L