ABB Starts New $3 Billion Share Buyback After Divestment
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ABB Ltd. is adding to its share buyback program with a plan for a further $3 billion in repurchases to return proceeds from a unit sale to shareholders.
The buyback will cover a maximum of around 89 million shares, targeting to maintain a strong investment rating, the company said Thursday. Since July 2020, the Swiss industrial giant has bought back shares for a total amount of about $6.6 billion.