Illinois Tool Works said its board approved a new share repurchase program that authorizes management to purchase up to $5B of the company’s common stock over an open-ended period of time. The full authorization represents approximately 20M shares based on ITW‘s closing share price on August 3. The company’s existing share repurchase authorization of $3B was announced in May 2021 and has approximately $740less than remaining in that program as of June 30.
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