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Cummins sets $500 million stock buyback plan

Cummins sets $500 million stock buyback plan

COLUMBUS, Ind. — Cummins said Wednesday it has entered into a $500 million accelerated stock repurchase agreement with Goldman Sachs & Co. LLC.

The engine maker’s stock edged up 0.2% in premarket trade. Under terms of the ASR, Cummins will buy back $500 million of its common stock from Goldman, with an initial delivery of about three million shares.

Read the full story from Market Watch.

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About Rebecca Smith

Rebecca Smith is a Wisconsin native currently living in Illinois with her husband, Eric, and two dogs, Maggie and Grace. She enjoys hiking, biking, kayaking and, of course, camping in cabins and park models.

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