Adient adopts tax benefits plan and raises buyback authorization by $400 million
Adient's board adopted a Tax Benefits Preservation Plan to help protect its U.S. net operating loss carryforwards and other tax attributes, and increased its share repurchase authorization by $400 million to a total of $1 billion. The rights plan is designed to make it harder for any person or group to reach a 4.95% stake, which could limit a takeover or large holder purchase, while the larger buyback authorization gives the company more capacity to return capital to shareholders.
Key points
- The company's rights are issued one per ordinary share, exercisable after the Separation Time for $83.50 to buy one one-thousandth of a participating preferred share.
- The repurchase authorization rises by $400 million to $1 billion total, with $435 million remaining after $565 million repurchased under the program launched in November 2022.
- The plan expires on November 4, 2027 unless shareholders ratify it, in which case it runs to November 4, 2029; the company intends to seek shareholder approval at its next annual meeting.
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
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