Home Depot: buys industrial distributor HD Supply

(CercleFinance.com) - US home improvement retailer Home Depot said on Monday that it has entered into a definitive agreement to acquire HD Supply, one of the largest industrial distributors in North America.


Under the terms of the agreement, the company has agreed to launch a tender offer to acquire all of the outstanding ordinary shares of HD Supply for 56 dollars per share in cash.

By comparison, HD Supply's share closed at 44.8 dollars on Friday evening.

HD Supply, which specializes in water infrastructure and residential and non-residential construction sectors, has approximately 500 locations across 48 states and six Canadian provinces, and employs about 14,000 people.

The acquisition is expected to be completed during Home Depot's fiscal fourth quarter, which ends on 31 January 2021.

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