Onex Corporation Announces Substantial Issuer Bid for up to $400 MILLION of its Subordinate Voting Shares
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Onex Corporation has announced a substantial issuer bid to repurchase up to $400 million of its subordinate voting shares. This move is aimed at reducing the number of shares outstanding, potentially increasing the value of remaining shares.
November 08, 2024 | 12:15 pm
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Onex Corporation's announcement of a $400 million share buyback could lead to a short-term increase in the stock price as the buyback reduces the number of shares outstanding, potentially increasing the value of remaining shares.
The substantial issuer bid indicates Onex's confidence in its own value, which often leads to a positive market reaction. The reduction in shares outstanding can increase earnings per share, making the stock more attractive to investors.
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