CACI repurchases 4 million shares of its stock
- August 29, 2011
Arlington-based CACI International Inc. has spent nearly $210 million to repurchase 4 million shares of its common stock.
In keeping with a share repurchase program already authorized by its board, CACI entered into an accelerated share repurchase (ASR) agreement with Bank of America.
Under the ASR, CACI bought 4 million shares of its outstanding common stock at an initial price of $52.42 per share, for a total price of approximately $209.7 million. These shares will be retired, dropping the number of outstanding shares for fiscal year 2012 to about 28 million.
CACI provides services and IT solutions to federal agencies in areas such as defense, defense, intelligence and homeland security.