American Capital suspends buybacks

|About: American Capital (ACAS)|By:, SA News Editor

A spinoff of the asset management unit coming? The move to suspend repurchases comes as the board studies whether American Capital's (ACAS) corporate structure is the "optimum means for operation and capitalization of the business."

In Q1, the company bought back 8.9M shares or 3.3% of the float at an average price of $15.38 each. Since Q3 of 2011, American Capital has bought back 101.6M shares or 29.4% of the float at an average price of $11.74, accretive to Dec. 31 NAV of $18.97 per share by $1.75.