Johnson Controls Announces $8.5 Billion Share Repurchase Authorization
In preparation for the upcoming sale of its power solutions business, narrow-moat-rated Johnson Controls announced that its board of directors has approved an $8.5 billion share repurchase program, which is in addition to the $1.6 billion the firm has available under a previous program. In a March 7 press release, Johnson Controls stated that the power solutions sale received antitrust approvals in both the United States and Europe, and the deal is still expected to close "no later than" June 30...
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