Engine Capital Sends Letter to EPAM Systems’s Board of Directors Highlighting Company’s Undervaluation and Urging the Initiation of a $750 Million Accelerated Share Repurchase Program
Engine Capital, which owns approximately 1.5% of EPAM Systems, sent a letter to the board urging the initiation of a $750 million accelerated share repurchase program to address what it views as significant undervaluation. The activist firm suggested the board utilize idle cash, free cash flows, or potential leverage to repurchase shares and strengthen alignment between company insiders and shareholders.
Key figures
- Proposed asr amount
- $750 million
- Activist stake percent
- 1.5%
AI analysis
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