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.
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IMPORTANCE 75
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