ITW Launches $3b Share 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 of 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. \ �2007 FastenerNews.com