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ALBEMARLE CORP FILES (8-K) Disclosing Regulation FD Disclosure

February 3, 2014

Item 7.01. Regulation FD Disclosure. On February 3, 2014 , Albemarle Corporation (the "Company") entered into a trade confirmation (the "Confirmation") with Merrill Lynch International ("Merrill Lynch"), acting through its agent Merrill Lynch, Pierce, Fenner and Smith Incorporated , with respect to an accelerated share repurchase program (the "ASR Program"). Pursuant to the terms of the Confirmation, the Company will purchase $50 million of its common stock from Merrill Lynch. The Company will acquire the shares under the share repurchase program previously authorized by the Company's board of directors (the "Buyback Program"). Approximately, 5.9 million shares remain authorized for repurchase under the Buyback Program. The purchases will be funded with available cash on hand. The total number of shares to ultimately be purchased by the Company under the ASR Program will generally be based on the average of the daily Rule 10b-18 volume-weighted average prices of the Company's common stock during the term of the ASR Program, less an agreed discount. The shares will be purchased in two $25 million tranches that may be settled separately or simultaneously. The actual number of shares purchased will be determined at the completion of the ASR Program. The settlement of the ASR Program may be accelerated and the number of shares to be delivered may be adjusted upon the announcement or occurrence of certain corporate events, including without limitation tender offers, delisting, merger events or insolvency. The ASR Program will be terminated at any time that the Company's share price is at or below $30 per share. No more than 1.5 million shares can be repurchased under the Confirmation. The ASR Program is expected to be completed by the end of April 2014 . --------------------------------------------------------------------------------


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Source: Edgar Glimpses


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