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BRIEF-CDK Global to repurchase $350 mln of its common stock

May 15 Cdk Global Inc

* Cdk global announces entry into an accelerated share repurchase agreement to repurchase $350 million of its common stock

* Cdk global inc says under terms of asr agreement, cdk will make a $350 million payment to bofaml on may 16, 2017

* Cdk global inc says final settlement of transaction under asr agreement is expected to occur during cdk's fiscal quarter ending september 30, 2017

* Cdk global inc says will receive from bank of america merrill lynch on may 16, 2017 initial delivery of about 4.5 million shares of cdk's common stock Source text for Eikon: Further company coverage:

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