5/7/2011 8:57:00 AM
NEWS BRIEFS
ITW Approves $4b Share Repurchase Plan

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Illinois Tool Works Inc. approved $4 billion in share repurchases, tapping cash reserves the company stockpiled during the recession.
 

The plan reportedly represents about 70 million of the company’s shares. It is in addition to the $870 million remaining in the Illinois Tool Works’s existing share repurchase program.
 

“We believe this new share repurchase program gives us the ongoing flexibility to effectively allocate free cash while maintaining a strong balance sheet,” stated CEO David Speer. ©2011 GlobalFastenerNews.com

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