Grainger plans to buy back $3 billion of its own shares

April 16, 2015 1:31 PM

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Power tools seller W.W. Grainger Inc. said Thursday that its board approved spending $3 billion to buy back its own stock over the next three years.

The company expects to buy back $1.4 billion in stock this year and $800 million in 2016 and another $800 million im 2017. Grainger will pay for the buybacks with a combination of cash and new debt. It will know the exact number of shares it bought at the end of 2017.

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