Gartner to buy back its shares from ValueAct

IT research and advisory company Gartner Inc (NYSE:IT) has agreed to purchase ValueAct Capital Partners’ remaining holdings in Gartner common stock, the company said today.

Gartner will pay USD35.20 per share, a 3.5% discount to Monday’s closing price, for 1,648,434 shares. The total cost is just over USD58m.

This transaction will form part of Gartner’s USD500m share repurchase programme, leaving approximately USD295m available for share repurchases.