Advice for Businesses in Dealing with the Expanding Coronavirus Events

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Navigating Share Repurchases in Volatile Markets

Joyce Sophia Xu, Michael L. Zuppone, Diona Park, Michael Spafford, John Nowak, Daren F. Stanaway, Yariv Katz & Keith Pisani
On Mar 17, 2020

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The global outbreak of the 2019 Novel Coronavirus (“COVID-19”), together with the oil price war, have fueled the volatility and historical losses in the stock market. Despite this turmoil, a down market also could present opportunities for companies considering buying back their shares. Share repurchase strategies range from traditional open-market share repurchase programs to issuer puts on its own stock to accelerated stock repurchase programs (“ASRs”), which may include embedded floors or caps.