The Florham Park-based company announced it entered and consummated the deal June 10. Funding came from Conduent’s cash on hand and existing credit facility, the company said.
The purchase price was $3.47 per share, the closing price of common shares on the last full day before the purchase agreement (June 7).
Marketwatch pegged Icahn’s stake in Conduent before the sale at 18%. Following it, neither Icahn nor his affiliates hold any Conduent common shares.
As a result, and in connection with the deal, three members of the board of directors employed by “Icahn Parties” resigned: Hunter Gary, […].
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