Our Clients

Overview

• Matthews South advised KLA Corporation on its $3 billion ASR
• The company announced the week prior to commencing the ASR a $6 billion share repurchase authorization, in addition to the ~$233 million outstanding authorization

Pricing, Structuring, & Execution Advice in a Volatile Market

• This was the first ASR on which we advised KLA Corporation
• We advised the company in structuring the transaction to optimize for the large size, company’s timeline for returning capital, and company’s upfront share delivery goals
• We coordinated execution with the bank group to create a competitive dynamic and better pricing
• Additionally, we provided documentation and accounting analysis to support equity treatment of the ASR