CA Technologies Enters Into an Accelerated Share Repurchase Agreement to Buy Back $500M of Shares

CA Technologies CA today announced it entered into an accelerated share repurchase agreement with Bank of America, N.A., under which the Company will repurchase $500 million of its common stock. The majority of the shares will be delivered to the Company by the bank in the Company's fourth quarter, ending March 31, 2012. The Company will acquire these common shares as part of its $1.5 billion stock repurchase program it announced on Jan. 24, 2012. The specific number of shares to be repurchased will be based generally on the volume-weighted average share price of the Company's common shares. A Current Report on Form 8-K with additional details on this transaction will be filed today.