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BRIEF-Open Text Corp- Resolving All Of Previously Disclosed Proposed Adjustments To Its Taxable Income For Fiscal 2010 And Fiscal 2012 With Irs

Published 2020-12-22, 08:48 a/m
© Reuters.
OTEX
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Dec 22 (Reuters) - Open Text Corp OTEX.TO :

* OPEN TEXT CORP - RESOLVING ALL OF PREVIOUSLY DISCLOSED PROPOSED ADJUSTMENTS TO ITS TAXABLE INCOME FOR FISCAL 2010 AND FISCAL 2012 WITH IRS

* OPEN TEXT CORP - OPENTEXT WILL MAKE AGGREGATE PAYMENTS OF APPROXIMATELY $290 MILLION TO IRS IN U.S. FEDERAL TAXES AND INTEREST

* OPEN TEXT CORP - IRS SETTLEMENT ALSO ELIMINATES APPROXIMATELY $90 MILLION IN FUTURE WITHHOLDING TAXES THAT OPENTEXT HAD EXPECTED TO PAY OVER NEXT 10 YEARS

* OPEN TEXT CORP - EXPECTS IRS SETTLEMENT TO RESULT IN AN APPROXIMATELY $290 MILLION CHARGE TO GAAP-BASED NET INCOME (LOSS) FOR Q2 OF FISCAL 2021

* OPEN TEXT CORP - COMPANY EXPECTS TO MAKE PAYMENTS TO IRS OF APPROXIMATELY $290 MILLION IN Q3 OF FISCAL 2021

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