Brown-Forman will repurchase outstanding class A and class B common shares worth $250 million. The U.S. spirits and wine company has obtained approval from its board of directors for the same. Under the plan, the company will be able to buy back its shares from time to time for cash in open market purchases, block transactions and privately negotiated transactions. It will finance the share repurchases with cash on hand and normal cash flow, adds The Wall Street Journal.
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