Home Depot to buy HD Supply Holdings in deal valued at $8 billion
Home Depot's smaller rival Lowe's Cos Inc last week said it was not in talks to buy HD Supply, denying a previous media report
 "Home Depot")
File photo of a Home Depot store is shown in the Little Havana neighbourhood in Miami, Florida. Photo: Reuters
Home Depot Inc said on Monday it would buy industrial goods wholesaler HD Supply Holdings Inc in a deal valued at about $8 billion.
The home improvement chain said it would offer $56 per share in cash to HD Supply shareholders, a near 25% premium to the stock's last close.
Home Depot's smaller rival Lowe's Cos Inc last week said it was not in talks to buy HD Supply, denying a previous media report.
HD Supply shares jumped 24.3% premarket.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Nov 16 2020 | 7:12 PM IST