Tupperware Jumps On $250 Million Share Buyback Plan
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By Dhirendra Tripathi
Investing.com – Tupperware (NYSE:TUP) rose more than 8% during Tuesday’s trading after the company announced a $250 million share repurchase.
The company said the share repurchases will be done through one or a combination of methods including privately negotiated transactions, block trades and accelerated share repurchase transactions.
The company also said it was prepaying a $58 million term loan to Angelo Gordon and JP Morgan
According to Tupperware Brands Chief Financial Officer Sandra Harris, prepayment of the loan was possible because of improved liquidity.
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