Teleflex Board Of Directors Has Authorized A Share Repurchase Program For Up To $1B Of The Company's Common Stock

Share Repurchase Program

Teleflex also announced that its Board of Directors has authorized a share repurchase program for up to $1 billion of the company's common stock. The program will primarily be funded with proceeds from the sale transactions.

"The sale transactions and this authorization are a testament to the Board's confidence in our ability to advance our strategic objectives and drive growth across our remaining businesses," said Mr. Kelly. "We have a longstanding commitment to return capital to shareholders and will continue to review our capital allocation strategy with a focus on maximizing long-term value creation."

The timing, price and actual number of shares of Common Stock that may be repurchased under the share repurchase authorization will depend on a variety of factors including the price, market conditions, any debt requirements and applicable law as well as actual timing of the close of each of the sale transactions. The repurchases may occur in open market transactions, in transactions structured through investment banking institutions, in privately negotiated transactions, by direct purchases of common stock or a combination of the foregoing. The share repurchase program does not require Teleflex to repurchase shares of its Common Stock, and it may be discontinued, suspended or amended at any time, without prior notice.