Cabot Plans Share Buyback; Sets Aside $10 Million for Carbon Black Litigation

Cabot Corp. says that its board has authorized the repurchase of up to 5 million shares of common stock, equivalent to up to 7.8% of Cabot’s common stock outstanding. A complete purchase of 5 million shares under the program would be valued at roughly $227 million, based on Cabot’s May 15 share price. “Given our strong financial performance and balance sheet, we plan to engage more actively in share repurchase activities, while at the same time continuing to pursue attractive growth opportunities,” says Cabot chairman and CEO Kennett...

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