R&H Begins $1-Billion Share Buyback

Rohm and Haas (R&H) says it has entered into an agreement with Goldman, Sachs (New York) to buy back $1 billion of its shares through a previously announced accelerated share repurchase program (CW, July 25, p. 11). The company says it will fund the program with the issuance of new debt. The stock buyback is expected to increase earnings by 2 cts/share in 2007, R&H says. “Our share repurchase plan demonstrates our commitment to leverage our financial strength to drive shareholder value, and underscores our confidence in the long-term potential for...

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