Home Depot: completes acquisition of HD Supply
(CercleFinance.com) - Home Depot said that it has completed its 8 billion dollar purchase of HD Supply, a US distributor of maintenance, repair and operations products, that was initially announced in November.
As part of the deal, the tender offer for all of HD Supply's outstanding shares expired at the end of trading on 23 December, with over 127.9 million shares validly tendered, representing approximately 82.9% of its total share capital, the company said.
All of the conditions have now been satisfied, Home Depot said.
The home-improvement retailer said that the acquisition of HD Supply is expected to position it as a premier provider in a highly fragmented maintenance, repair and overhaul market, which the company estimates to be worth approximately 55 billion dollars.
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