First Business

April 26, 2013

Caterpillar to repurchase $1B in common stock from Citibank

Caterpillar Inc. said Thursday it has struck an agreement with Citibank to purchase $1 billion worth of shares of the equipment manufacturerâ;€™s common stock under an accelerated stock repurchase program announced in its earnings release this week.

Peoria, Ill.-based Caterpillar (NYSE: CAT) has its global mining equipment unit based in Oak Creek, a large manufacturing site in South Milwaukee and a smaller facility in Milwaukeeâ;€™s Bay View neighborhood.

Itâ;€™s the companyâ;€™s first stock repurchaseâ;€¦;

Read Full Article Online »

« Return to Business Articles