Grainger to Buy Techni-Tool
Grainger (NYSE: GWW), the leading broad line supplier of maintenance, repair and operating products serving businesses and institutions, today announced its intent to acquire Techni-Tool, Inc., and its affiliate Wassco Inc., leading specialist distributors serving manufacturing customers with 2011 sales of $88 million. Grainger expects the transaction to close by December 31, 2012, subject to standard conditions, and be neutral to 2013 earnings per share. Terms of the agreement were not disclosed.
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