PotashCorp Gets OK for Share Repurchase Plan

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Following last week's announcement of PotashCorp's plans to implement a share repurchase plan of as much as $2 billion, equal to 5% of its outstanding stock, it has received the go-ahead from the Toronto Stock Exchange, PotashCorp announced today.

According to PotashCorp, it will purchase up to 43,345,992 shares at its discretion between Aug. 2, 2013, and Aug. 1, 2014, subject to "a maximum aggregate amount of $2 billion." PotashCorp intends to cancel all the shares it purchases as part of the program.

The shares repurchased throughout the year may be made in either the Canadian or U.S. exchanges or alternative trading platforms. The total amount and exact timing of the stock repurchases will be determined by PotashCorp, the company said.

The article PotashCorp Gets OK for Share Repurchase Plan originally appeared on Fool.com.

Fool contributor Tim Brugger and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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