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CA Technologies Enteres Accelerated Share Repurchase Deal With Bank Of America

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CA Technologies (CA: Quote) Thursday said it has entered into an accelerated share repurchase agreement with Bank of America, N.A., under which the Company will repurchase $500 million of its common stock.

The majority of the shares will be delivered to the Company by the bank in the Company's fourth quarter, ending March 31, 2012. The Company will acquire these common shares as part of its $1.5 billion stock repurchase program it announced on Jan. 24, 2012.

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