In February 2008 ABB Ltd commenced a share buyback program of a maximum total value of CHF 2.2 billion to be carried out within two years. The company has spent approximately 650 million Swiss francs on the program.
At the Annual General Meeting of ABB Ltd, held on April 26, 2010, shareholders approved the proposal of the Board of Directors to reduce the share capital by way of cancellation of 22,675,000 shares repurchased under the program.
The shares were cancelled effective as of July 9, 2010.