The Board of Directors of Watts Water Technologies, Inc. (NYSE:WTS) authorized a share repurchase program on April 30, 2013. Under the program, the company will repurchase up to $90 million worth of shares of its Class A common stock. Any repurchased shares will be available for use in connection with its stock plans and for other corporate purposes. The shares will be repurchased from time to time on the open market or in privately negotiated transactions. The repurchases ... may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the company might otherwise be precluded from doing so under insider trading laws. The company is repurchasing its shares to offset dilution associated with employee stock plans. The repurchase program may be suspended or discontinued at any time. The repurchase program will be funded using the company's available cash. On May 10, 2013, the company adopted a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The company implemented this written trading plan in connection with its share repurchase program. Adopting a trading plan that satisfies the conditions of Rule 10b5-1 allows a company to repurchase its shares at times when it might otherwise be prevented from doing so due to self-imposed trading blackout periods or pursuant to insider trading laws. A broker selected by the company will have the authority under the terms and limitations specified in the plan to repurchase shares on the company’s behalf in accordance with the terms of the plan.
Read More

Boshart Industries Inc. acquired Flomatic Corporation from Watts Water Technologies, Inc. (NYSE:WTS) in cash on December 21, 2012. The acquisition excludes the backflow product line of Flomatic, which has been retained by Watts Water. No changes are anticipated in the management of either Boshart or Flomatic operations. The transaction will not have a material impact on Watts Water's results of operations.

Sponsored Financial Commentaries

To contact WATTS WATER TECHNOLOGIES-A, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.