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Rockwell Automation To Make $1 Bln Equity Investment In PTC


Monday, 11 Jun 2018 06:13am EDT 

June 11 (Reuters) - PTC Inc ::PTC AND ROCKWELL AUTOMATION ANNOUNCE STRATEGIC PARTNERSHIP TO DRIVE INDUSTRIAL INNOVATION AND ACCELERATE GROWTH.ROCKWELL AUTOMATION INC - ROCKWELL AUTOMATION TO MAKE $1B EQUITY INVESTMENT IN PTC.ROCKWELL AUTOMATION INC - AS PART OF PARTNERSHIP, ROCKWELL AUTOMATION WILL MAKE A $1 BILLION EQUITY INVESTMENT IN PTC.ROCKWELL AUTOMATION INC - ROCKWELL AUTOMATION INTENDS TO FUND INVESTMENT THROUGH A COMBINATION OF CASH ON HAND AND COMMERCIAL PAPER BORROWINGS.ROCKWELL - ROCKWELL AUTOMATION'S CHAIRMAN AND CEO, BLAKE MORET, WILL JOIN PTC'S BOARD OF DIRECTORS EFFECTIVE WITH CLOSING OF EQUITY TRANSACTION.ROCKWELL AUTOMATION INC - INCREASING ITS SHARE REPURCHASE TARGET FOR FISCAL YEAR 2018 TO $1.5 BILLION.ROCKWELL AUTOMATION INC - $1 BILLION EQUITY INVESTMENT IN PTC BY ACQUIRING 10.6 MILLION NEWLY ISSUED SHARES AT A PRICE OF $94.50.ROCKWELL AUTOMATION INC - PTC INTENDS TO USE PROCEEDS FROM EQUITY INVESTMENT TO REPURCHASE STOCK TO OFFSET DILUTION.ROCKWELL AUTOMATION INC - SHARE BUYBACK REPRESENTS A $300 MILLION INCREASE TO ITS PREVIOUS PLANS TO REPURCHASE $1.2 BILLION OF ITS STOCK IN FISCAL YEAR 2018. 

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