Conduent Repurchases All Shares Owned By Carl Icahn For $3.47 Each, Totaling $132M, Funded From Cash And Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Conduent has repurchased all shares owned by Carl Icahn for $3.47 each, totaling $132 million. The repurchase was funded from cash and a credit facility.
June 10, 2024 | 12:05 pm
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NEUTRAL IMPACT
Carl Icahn's investment vehicle, Icahn Enterprises, sold all its shares in Conduent for $3.47 each, totaling $132 million.
The sale of shares by Icahn Enterprises may not have a significant immediate impact on IEP's stock price, but it could be seen as a strategic move to reallocate capital.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Conduent repurchased all shares owned by Carl Icahn for $3.47 each, totaling $132 million. This move was funded from cash and a credit facility.
The repurchase of shares from a significant shareholder like Carl Icahn can be seen as a positive move, potentially reducing market uncertainty and signaling confidence in the company's financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100