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Air Products Approves $1-Billion Share Repurchase

12:13 PM MDT | October 3, 2007 | Nancy Seewald

Air Products says its board of directors has approved the repurchase of up to $1 billion of its common stock, or about 5% of its current equity market capitalization. The company’s shares traded at $94.59/share on September 25, the day after the announcement. Jones: Strong balance sheet. The repurchase program is in addition to a $1.5-billion stock repurchase announced last year, under which it has so far repurchased more than $1 billion in shares (CW, March 29, 2006, p. 12). Air Products says it expects to complete that program by the end of its 2008...

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