Conduent (CNDT) has provided an update.
Conduent Incorporated recently repurchased approximately $132 million worth of its common stock from Carl C. Icahn and affiliated entities, fully divesting the Icahn Parties’ ownership in the company. The transaction involved 38,149,336 shares at $3.47 each, mirroring the last closing price before the deal. Funded by cash reserves and a drawdown from Conduent’s credit facility, the repurchase also led to the termination of a prior agreement with the Icahn Parties, with certain conditions persisting until after the company’s 2026 annual shareholder meeting. This strategic move was publicly announced by Conduent in a press release.
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