American Capital (ACAS) Makes 8.8M Open Market Transaction
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American Capital, Ltd. (Nasdaq: ACAS) announced that in the fourth quarter of 2012, it made open market purchases of approximately 8.8 million shares of American Capital common stock, or 2.8% of the Company's outstanding shares as of September 30, 2012. The shares were purchased at an average price of $11.72 per share, totaling approximately $103 million.
Starting in the third quarter of 2011, American Capital has made open market purchases of 52.4 million shares, or 15.2% of the Company's outstanding shares as of June 30, 2011, at an average price of $9.46 per share, totaling $495.3 million. Purchases starting in the third quarter of 2011 through September 2012 were $0.90 per share accretive to the Company's $17.39 net asset value per share ("NAV") as of September 30, 2012. Had these shares not been repurchased, American Capital would have had to earn an additional $278 million during that five quarter period to have produced the same NAV per share. Accretion from the purchases in the fourth quarter of 2012 will be disclosed in the Company's fourth quarter earnings release.
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Starting in the third quarter of 2011, American Capital has made open market purchases of 52.4 million shares, or 15.2% of the Company's outstanding shares as of June 30, 2011, at an average price of $9.46 per share, totaling $495.3 million. Purchases starting in the third quarter of 2011 through September 2012 were $0.90 per share accretive to the Company's $17.39 net asset value per share ("NAV") as of September 30, 2012. Had these shares not been repurchased, American Capital would have had to earn an additional $278 million during that five quarter period to have produced the same NAV per share. Accretion from the purchases in the fourth quarter of 2012 will be disclosed in the Company's fourth quarter earnings release.
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