FedEx approves repurchase of up to 15M shares; price tag would top $2.4B at current value

Economic Indicators Associated Press

FedEx said Monday it approved the repurchase of up to 15 million shares of its stock, which would cost $2.43 billion based on its current share price.

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Shares of FedEx Corp. are trading at all-time highs and closed at $162.18 on Monday. The stock is up 13 percent in 2014.

The Memphis, Tennessee-based company had 283.2 million shares on the market as of Sept. 17.