ExlService Enters $125 Million Accelerated Share Repurchase Agreement With Morgan Stanley
MT Newswires Live
Mar 17
ExlService Holdings (EXLS) said Tuesday that it has entered into an accelerated share repurchase agreement with Morgan Stanley (MS) to repurchase $125 million of its common stock.
The number of shares the company will repurchase under the agreement will be based on the average of the daily volume-weighted average prices of the shares during the term of the agreement, the company said
The agreement, part of the company's recently authorized $500 million repurchase program, will be funded with cash on hand and borrowing from its credit facility, the company said.
ExlService shares were 1% higher in premarket trading.
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