Home Depot to buy HD Supply Holdings in $8 billion deal

(Reuters) – Home Depot Inc <HD.N> said on Monday it would buy industrial goods wholesaler HD Supply Holdings Inc <HDS.O> 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 <LOW.N> last week said it was not in talks to buy HD Supply, denying a previous media report.

HD Supply shares jumped 24.3% premarket.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli and Shounak Dasgupta)

The post Home Depot to buy HD Supply Holdings in $8 billion deal appeared first on Morningology.

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