Crown Holdings Announces Stock Repurchase Authorization of $600 Million
Share:
PHILADELPHIA, Dec. 9, 2010 - Crown Holdings, Inc. (NYSE: CCK) announced today that its Board of Directors has authorized the repurchase of up to $600 million of the Company's common stock through the end of 2012.
Stock repurchases under this program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.
This repurchase authorization replaces all previous authorizations and is in addition to repurchases pursuant to the previously announced accelerated share repurchase agreement entered into by the Company on December 2, 2010. As of today, December 9, 2010, there are 155.0 million shares of common stock outstanding.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, PA. For more information, visit www.crowncork.com.
For more information, contact:
Thomas A. Kelly,
Senior Vice President - Finance,
(215) 698-5341, or
Ed Bisno,
Bisno Communications,
(212) 717-7578.
SOURCE Crown Holdings, Inc.
Web Site: www.crowncork.com
