Big Law

Home Depot Acquires Remaining Shares of HD Supply Holdings

Home Depot Inc. HD, +0.86% said Monday that it has agreed to acquire the remaining shares of HD Supply Holdings Inc. at $56 per share, in a deal valued at about $8 billion.

The announcement comes a day before Home Depot is scheduled to report fiscal third-quarter results.

HD Supply Holdings Inc. HDS, +24.45% is a distributor of maintenance, repair and operations (MRO) products for the multi-family and hospitality markets.

“HD Supply complements our existing MRO business with a robust product offering and value-added service capabilities, an experienced salesforce that enhances the strong team we have in place, as well as an extensive, MRO-specific distribution network throughout the U.S. and Canada,” said Craig Menear, chief executive of Home Depot, in a statement.

Read the source article at MarketWatch

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