Wednesday, July 11, 2007

Orica May Boost Stock Buyback After Failed Dywidag Offer, Macquarie Says

(Bloomberg) -- Orica Ltd., the world's largest
explosives maker, may have the funds to buy more of its own
shares after failing to take over Dywidag-Systems International
GmbH, Macquarie Bank Ltd. said.

Melbourne-based Orica has A$1 billion ($861 million) of
debt capacity to fund takeovers, growth or capital management,
Macquarie analysts led by John Purtell said today in a note to
clients. The company may complete its current buyback
``swiftly'' since failing to buy Dywidag, the note said.


Read more at Bloomberg Commodities News

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