LONDON--(BUSINESS WIRE)--IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today said its Board of Directors has approved modification of the company’s previously announced August 2016 share repurchase authorization.
In a regularly scheduled meeting, the Board agreed to increase the size of the company’s August 2016 share repurchase authorization from up to $1.5 billion to up to $2.25 billion of IHS Markit common shares, and to extend the termination date of the authorization from November 30, 2017 to May 31, 2018.
“This modification adds flexibility to our share repurchase in meeting our previously communicated commitment of purchasing $1.2 billion of IHS Market common shares in 2017 and $1.0 billion of the shares in 2018,” said Jerre Stead, IHS Markit chairman and CEO. “We remain focused and confident in our strategy of delivering long-term profitable growth and value to our shareholders.”
IHS Markit is authorized to repurchase its common shares on the open market from time to time, in privately negotiated transactions, or through accelerated repurchase agreements, subject to availability of common shares, price, market conditions, alternative uses of capital, and applicable regulatory requirements, at management’s discretion. The program does not obligate the company to repurchase any set dollar amount or number of shares and may be modified, suspended, or terminated at any time without prior notice. The authorization will be funded using the company’s existing cash, cash equivalents, marketable securities, and future cash flows, or through the incurrence of short- or long-term indebtedness, at management's discretion.
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About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. All other company and product names may be trademarks of their respective owners © 2017 IHS Markit Ltd. All rights reserved.