Home Depot To Buy HD Supply Holdings In $8 Billion Deal

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.

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