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Exelis to Repurchase Up to $350M in Shares Over 2-Year Period

Exelis logoExelis (NYSE: XLS) plans to repurchase its outstanding common stock worth as much as $350 million following the board of directors’ approval of a two-year share repurchase program.

The company said Tuesday it will repurchase an undefined number of shares at any time within the period ending Nov. 4, 2016, based on federal securities legislation and factors such as market conditions.

Exelis noted that it may suspend, extend or end the program at any point without prior notice.

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