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August 27, 2007

Reports: Home Depot Agrees to $8.5B Price Tag

According to news reports, Home Depot Inc., Atlanta, GA, has agreed to sell HD Supply for $8.5 billion, roughly $2 billion less than the originally agreed-upon price.
 
Private equity firms Bain Capital LLC, Carlyle Group and Clayton, Dubilier & Rice will buy the $12 billion wholesale unit after negotiating a lower price. The negotiations were blamed on tighter credit conditions.
 
News reports say Home Depot will finance $1 billion of the purchase and will hold a 13% stake in the unit.
 
Home Depot has not yet made an official announcement.

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