Leidos Signs Deal to Repurchase $100M in Outstanding Shares

LeidosLogoLeidos Holdings (NYSE: LDOS) has reached an agreement with a financial institution to repurchase $100 million of the company’s outstanding shares of common stock.

The company will acquire those shares under an existing repurchase authorization and the financial institution is set to deliver 80 percent of the shares in the near term, Leidos said Wednesday.

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Leidos and the financial institution are scheduled to complete the agreement in August, with the transaction to be financed from cash on hand.

The total number of stocks Leidos will purchase depends on the share price of its common stock over the agreed averaging period.

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