Boosts

lululemon (LULU) Ups Buyback Plan, Boosts Shareholders’ Wealth

lululemon athletica inc.’s LULU business growth opportunities coupled with efficient operating strategies have helped strengthening its base. This, in turn, is helping the company to boost shareholders’ returns through share-repurchasing activities. In a recent SEC filing, this well-known athletic apparel company announced its plans to expand stock buyback plans. Management stated that as on Oct 1, 2021, the company’s board approved a $500-million increase to its existing share repurchase plan.

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As a result of this new share repurchase authorization, the company’s stock repurchase program has gone up to $641.2 million from $141.2 million. Management highlighted that the authorization has no limit and does not require the repurchase of a minimum number of shares. During second-quarter fiscal 2021, the company repurchased 0.5 million shares for a total cost of $171.1 million.

Share repurchasing actions are a prudent way of maximizing shareholders’ wealth and generating more value. The

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MetLife Boosts Group Benefits Business With Acquisition

MetLife, Inc. MET recently inked a definitive agreement to acquire Versant Health, which is a leader in vision care and owner of renowned Davis Vision and Superior Vision, from private investor group headed by Centerbridge Partners.

Subject to customary approval, the all-cash transaction valued at $1.675 billion is likely to conclude by the end of fourth-quarter 2020.

Benefits of the Deal

The deal will enable MetLife to have access to around 35 million members of Versant Health, which in turn, is likely to enhance its vision benefit offering. Notably, MetLife has an impressive record of providing group vision insurance to customers since 2012. The latest deal will not only make it the third largest U.S. vision insurer with around 38 million members but also benefit clients, who will have access to the largest provider and plan options network of Versant Health.

Apart from making MetLife a leader in managed vision

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