Clarivate Announces New $500 Million Share Repurchase Authorization

Core Viewpoint - Clarivate Plc has announced a new share repurchase program of up to $500 million for a two-year period from January 1, 2025, to December 31, 2026, replacing the current program which ends on December 31, 2024 [1][2]. Group 1: Share Repurchase Program - The new share repurchase program will allow the company to buy back its ordinary shares through open-market purchases [1][3]. - The previous share repurchase program resulted in the repurchase of $300 million of ordinary shares, with $200 million repurchased in the third and fourth quarters of 2024 [2]. - The new program reflects the Board's confidence in the company's growth and financial performance, aligning with its Value Creation Plan [3]. Group 2: Financial Management - Clarivate has prepaid $75 million of term-loan debt in the fourth quarter of 2024, totaling $133 million in prepayments for the year [2]. - The company emphasizes a balanced approach to capital allocation, which includes returning capital to shareholders and reducing debt [3]. Group 3: Operational Flexibility - The new share repurchase program does not obligate Clarivate to repurchase a specific dollar amount or number of shares and can be modified or terminated at any time [3]. - The company will conduct open-market purchases based on market conditions, availability of shares, and other factors at management's discretion [3].