Axalta Announces $675 Million Share Repurchase Program Authorization

Axalta Coating Systems Ltd. has announced that its Board of Directors authorized a common share repurchase program of up to $675 million. Axalta expects the share repurchases to be made from time to time in the open market or through privately negotiated transactions, or otherwise, subject to applicable laws, regulations, and approvals. According to Axalta, the pace of repurchase activity will be subject to the discretion of Axalta, and will be based upon market conditions and other capital allocation decisions, while incorporating key factors including cash balances and needs of the business, cash flow from operations, stock price, and acquisition opportunities. There is reportedly no expiration date on the share repurchase program.