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ITT Sheds Debt Related to Upcoming Spinoff with Completed Tender Offer

ITT Corp. (NYSE: ITT) has announced the results of the modified “Dutch Auction” cash tender offer it held to shed off debt associated with its upcoming spin off of Xylem Inc. and Exelis Inc.

The offer was for up to $100 million of the aggregate principal amount of 7.40 percent debt due 2025.

The company said $87.557 million of principal was accepted.

To view the full results, click here.

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