CACI International [CACI] yesterday said it has completed the repurchase of 4 million shares of its common stock under an accelerated share repurchase agreement that it first announced in conjunction with the release of its fiscal year-end results (Defense Daily, Aug. 19).
The cost of the repurchase was $209.7 million. The share repurchase was made through an agreement with Bank of America [BAC].
The accelerated repurchase agreement replaced a previous $175 million share repurchase plan.
The company said it expects its diluted share count to be about 28 million. The company did not update its financial guidance.
“This share repurchase represents our confidence in CACI’s future growth prospects, as we continue to provide valuable services to our many customers,” Jack London, CACI’s chairman, said in a statement.