Baxter board OKs new $2.5B share buyback

By Bruce Japsen
Posted Dec. 13, 2010 at 3:53 p.m.

Baxter International Inc. said its directors have approved a share repurchase program of up to $2.5 billion of the company’s common stock.

Baxter still has $600 million remaining from a $2 billion share repurchase program approved by the board in July 2009.

“This approval is consistent with our disciplined capital allocation approach and reflects the confidence we have in our ongoing ability to generate strong cash flows and deliver increased value to our shareholders,” said Baxter chief financial officer Robert J. Hombach.

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