Quintiles IMS Holdings, Inc. Buyback
OLI recorded this information on 5/24/2017
Quintiles IMS Holdings, Inc.
Quintiles IMS Holdings, Inc. ("QuintilesIMS") (NYSE:Q) announced today the launch of an underwritten, secondary public offering of 10,571,003 shares of its common stock by certain of its existing stockholders, including affiliates of TPG Global, LLC, CPP Investment Board Private Holdings, Inc., investment funds associated with Bain Capital Investors, LLC, Leonard Green & Partners, L.P., and Dr. Dennis B. Gillings, CBE and certain of his affiliates (the "Selling Stockholders"), of which QuintilesIMS intends to repurchase from the underwriter a number of shares having an aggregate value of approximately $300 million (the "Repurchase"). On May 24, 2017, the Company's post-merger share repurchase authorization was increased by $1.0 billion to a total of $3.5 billion, with approximately $850 million authorization remaining following the contemplated Repurchase.
Quintiles IMS Holdings is an integrated information and technology-enabled healthcare service provider. Co. has three operating segments: Commercial Solutions, Research & Development Solutions and Integrated Engagement Services. Co.'s principal Commercial Solutions offerings include: national information offerings and sub-national information offerings. Co.'s principal Research & Development Solutions offerings include: project management and clinical monitoring, clinical trial support services, and Q2 Solutions. Co.'s principal Integrated Engagement Services offerings include: health care provider engagement services, patient engagement services, and medical affairs services.
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Buy (2.85 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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