Leidos Enters Into $300 Mln Accelerated Stock Repurchase Transaction

(RTTNews) - Leidos Holdings, Inc. (LDOS), a national security, health and engineering solutions company, Friday said it has entered into an agreement with a financial institution for an accelerated stock repurchase transaction. Through the deal, the company will purchase $300 million of its outstanding shares of common stock, with approximately 80 percent of the shares to be delivered in the near term.

The total number of shares ultimately purchased will be based on the share price of the company's common stock over the averaging period set forth in the agreement. The agreement is expected to be complete by March 2014.