Aecom Announces $200 Million Share Repurchase Program

AECOM Technology Corp. ACM announced today that its Board of Directors has authorized the repurchase of up to $200 million of its common stock. In connection with the authorization of the repurchase program, AECOM has entered into an accelerated share repurchase agreement with Bank of America N.A. to repurchase $100 million of its common stock. This transaction will enable the company to reduce its outstanding share count shortly after execution of the agreement. “The Board's share repurchase authorization reflects its confidence in our long-term outlook and acknowledges this opportunity to create shareholder value by purchasing our shares at what we believe is a significant discount to their intrinsic value,” said John M. Dionisio, AECOM president and chief executive officer. “The share repurchase program complements our strategy of balanced growth, and we will continue to deploy our strong balance sheet to invest in both organic growth initiatives and strategic acquisitions, which we believe will drive long-term growth for AECOM.”