Donaldson Co., a Minneapolis-based provider of filtration systems and replacement parts, has announced that the company’s board of directors has authorized the repurchase of up to 8 million common shares.
The new repurchase authorization replaces the existing authority that was approved in January 2003. Previously, Donaldson repurchased 7.2 million shares out of the 8 million shares authorized in the January 2003 authority. The new 8 million share authorization is effective until otherwise terminated by the board.
Shares may be repurchased through a variety of methods, including open market share repurchases, privately negotiated share repurchases, accelerated share repurchase programs, equity options or other similar facilities.