Trimble to buy back $800 million worth of shares, expand board following Jana investment
Publishing timestamp: 2024-01-30 11:21:08
Summary
Industrial technology company Trimble will expand its share buyback to $800 million and add two directors to its board. This comes after activist investor Jana Partners disclosed a stake in the company and pushed for margin improvements. Jana praised the moves and suggested that industrial buyers might find a takeover appealing. Trimble's stock rose on the news.
Sentiment: POSITIVE
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