Illinois Tool Works (ITW) Trades Higher Following $1.05B Asset Sale

August 16, 2012 9:47 AM EDT
Illinois Tool Works (NYSE: ITW) is moving comfortably higher Thursday, following the announcement of a key divestiture. Shares are up about 1.2 percent on the session.

ITW said it will sell a majority stake in its Decorative Services segment in a transaction valued at $1.05 billion. ITW will retain a 49 percent interest in the unit.

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