Terex (TEX) Board Authorizes Increase in Stock Buyback Plan By $500 Million
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Terex Corporation (NYSE: TEX) announced that its Board has authorized an increase in its share repurchase program, under which the Company now may purchase an additional $500 million of the Company's outstanding common shares. This brings the total amount that may be repurchased under the share repurchase program to $1.2 billion, while keeping the program period expiration date of June 30, 2009. Purchases may be made at the Company's discretion from time to time in open market transactions at prevailing prices or through privately negotiated transactions as conditions permit.
As of June 30 2008, Terex Corporation has purchased approximately $362 million of shares under the repurchase program.
Terex Corporation is a diversified global manufacturer with 2007 net sales of over $9.1 billion.
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