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Stock Market & Financial Investment News

News Breaks
January 23, 2013
08:22 EDTMSCI, ICGICG to sell Investor Force to MSCI for $23.5M cash
ICG Group (ICG), announced that one of its consolidated companies, Investor Force, has entered into a definitive agreement to be acquired by MSCI (MSCI). Under the terms of the agreement, MSCI will acquire InvestorForce for $23.5M in cash. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2013. ICG's share of the cash proceeds related to the sale of InvestorForce is expected to be approximately $20.7M, approximately $2.1M of which will be subject to a customary indemnification holdback. Upon closing of the transaction, ICG will record a gain of approximately $15.4M on the sale of its InvestorForce stake; the release of any escrowed proceeds to ICG will result in additional gains. ICG does not expect to owe any income taxes in connection with the transaction.
News For ICG;MSCI From The Last 14 Days
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May 19, 2015
08:45 EDTMSCIMSCI says $300M ASR completed, $550M remains under buyback authorization
MSCI Inc. announced that it will receive approximately 1.2M shares of its common stock on May 21 in connection with the settlement of the $300M accelerated share repurchase agreement, or ASR, it entered into on September 18, 2014. MSCI repurchased a total of 5.7M shares as part of the September 2014 ASR. The outstanding authorization of the board to repurchase shares of MSCI common stock with an aggregate value of up to $550M is part of MSCIís commitment to return approximately $1B in capital to shareholders by the end of 2016.

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