Benzinga | Dec 6, 2021 06:52AM EST

BrightView Plans $250M Buyback Program

* BrightView Holdings Inc (NYSE:BV) Board authorized a share repurchase program totaling $250 million. The program has no time limit.

* The buyback is effective immediately and allows for ongoing and profitable investment in the business while utilizing moderate balance sheet leverage and facilitating opportunistic share repurchases.

* The company says the share repurchase authorization announced does not affect its previously stated and ongoing mergers and acquisitions strategy.

* BrightView held $123.7 million in cash and equivalents as of September 30, 2021.

* Price Action: BV shares closed lower by 1.10% at $13.46 on Friday.