Conduent To Repurchases Around $132 Mln Of Shares From Carl Icahn

(RTTNews) - Conduent Inc. (CNDT), a technology-led business solutions and services company, announced on Monday that it has executed a deal to repurchase its shares owned by Carl Icahn through certain of his affiliates at $3.47 per share, the closing price of the company's shares on June 7. The total repurchase price was around $132 million, funded from Conduent's cash on hand and existing credit facility.

Cliff Skelton, CEO of Conduent, said: "Following this transaction, we will continue to focus our capital allocation in the near-term on additional pay down of debt to further reduce our debt leverage ratios."