On August 7, 2023, Fiserv Entered Into A Stock Purchase Agreemen With Valueact Capital Master Fund, L.p. To Repurchase 4,098,935 Shares At $121.9829/Share
Portfolio Pulse from Charles Gross
Fiserv, Inc. has entered into a stock purchase agreement with ValueAct Capital Master Fund, L.P. to repurchase 4,098,935 shares at $121.9829 per share. The total purchase price is approximately $500 million. This repurchase is part of the previously announced repurchase authorization for up to 75.0 million shares approved by the company's board of directors.
August 08, 2023 | 10:18 am
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POSITIVE IMPACT
Fiserv's repurchase of 4.1 million shares could potentially increase the stock's price in the short term due to the reduction in shares outstanding.
Share repurchases often lead to a short-term increase in the stock's price as they reduce the number of shares outstanding, thereby increasing earnings per share. This could make the stock more attractive to investors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100