It makes you wonder...last time open market price was 74.25 was well before the announcement of the sale. ITW does so many things right...balancing the re-purchase against dilution of earnings from discontinued earnings source, to me that's brilliant. Apparently large investors agree...price and volume both popped upward. Shareholders get rewarded.
But, it does make you wonder. SEC not enforcing naked shorting, why would they penalize an insider info situation of only a half-a million. Shareholders didn't get taken...perhaps thats the acid test these days.