IDEX Board Approves Addl Share Repurchase Authorization Of Up To $400 Mln

(RTTNews) - IDEX Corp. (IEX) announced that its board has approved an additional share repurchase authorization of up to $400 million of outstanding common shares.

Chairman and Chief Executive Officer Andrew Silvernail stated, "The share repurchase authorization is consistent with our intention of deploying capital in a manner that benefits our shareholders. We have reviewed our capital requirements over the planning horizon and have the capability to deploy in excess of $1 billion for acquisitions and organic growth initiatives while maintaining strong capital adequacy."