American Capital To Undergo Strategic Review, Increase Share Buybacks

By Trey WilliamsMarketWatch Pulse

Private equity firm and global asset manager American Capital Ltd. said on Wednesday it has hired Goldman Sachs & Co. and Credit Suisse Securities to help undergo a full strategic review of options. The review, helmed by a committee of board members, will include consideration to sell the company or its various business lines as a whole or in part, according to a news release. The company said it will increase the range of its share buyback program to $600 million to $1 billion from $300 million to $600 million. Shares of American Capital were halted in premarket trade, and are down 4.8% in the year to date. The S&P 500 index is up more than 1%.

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