Edition:
United States

Cognizant Launches $300 Mln Accelerated Share Repurchase


Thursday, 14 Dec 2017 06:00am EST 

Dec 14 (Reuters) - Cognizant Technology Solutions Corp ::COGNIZANT LAUNCHES $300 MILLION ACCELERATED SHARE REPURCHASE.COGNIZANT TECHNOLOGY SOLUTIONS CORP - WILL FUND ASR PROGRAM ON DECEMBER 14, 2017 FROM CASH ON HAND AND ITS EXISTING CREDIT FACILITY.COGNIZANT TECHNOLOGY - UNDER TERMS OF ASR AGREEMENT, ABOUT 3.58 MILLION OF SHARES TO BE REPURCHASED WILL BE RECEIVED BY COGNIZANT ON DECEMBER 14, 2017.COGNIZANT TECHNOLOGY - FINAL SETTLEMENT OF TRANSACTION UNDER ASR AGREEMENT IS ANTICIPATED TO OCCUR DURING Q1 OF 2018.