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This means that Valspar's management is authorised to repurchase of up to 4,000,000 shares, or approximately 4.0%, of its outstanding common stock over the next 12 months. Shares may be purchased from time to time, either in market transactions or negotiated private purchases.
This authorisation is a renewal of previous annual authorisations and replaces the one approved in October 2008. Valspar had 99,478,086 common shares outstanding as of 20 October 2009.
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