Dover authorizes $500 mln share repurchase program

Co announced that its Board of Directors has approved a share repurchase program whereby the company will buy back ~$500 mln worth of Dover common stock. The program authorizes the repurchase of 10,000,000 shares or ~5% of its outstanding shares. As part of this program, the co also announced it has entered into an accelerated share repurchase agreement ("ASR") with Goldman, Sachs & Co. Under this agreement, the co will immediately repurchase 6 mln shares of its common stock from Goldman, Sachs & Co.