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Resources Connection to draw down on revolver to fund share buyback
By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Resources Connection, Inc. plans to draw down on its revolving credit facility to fund part of its repurchase of shares through a Dutch auction tender offer which expired at midnight on Tuesday, according to a press release.
The company will also use $50 million of cash and cash equivalents on hand to fund the repurchase cost of about $107,568,448 plus fees and expenses.
The staffing services firm is based in Irvine, Calif.
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