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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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
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