ITW Launches $3b Stock Buyback
August 20
00:00
2007
ITW Launches $3b Stock Buyback
Jason Sandefur
Illinois Tool Works Inc. announced a new share repurchase program to buy back up to $3 billion of the company’s common stock over an open-ended period of time. The full authorization represents approximately 55 million shares.
The company’s existing share repurchase authorization, announced in August 2006, consisted of 35 million shares. ITW has spent $680 million to repurchase shares in 2007.
The company also plans to increase its share repurchase forecast for 2007 to a range of $1.1 billion to $1.4 billion. Web: itw.com �2007 FastenerNews.com
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