February 12, 2007

HD to Evaluate Strategic Alternatives for HD Supply Business

Leave a Comment / Free, Companies, News, Subscriber Only / MDM Staff

The Home Depot, Atlanta, GA, has announced it will evaluate strategic alternatives" for its HD Supply business, including a possible sale, spin or initial public offering of the business.

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In a release, the company said a transaction is not definite. HD has retained Lehman Brothers as its financial advisor. HD said it would not disclose further developments with respect to HD Supply unless the board of directors has approved a definite transaction.

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"Today's announcement is a continuation of the strategic review we did in November," said CEO Frank Blake. "We are undertaking this action today because of our desire to increase our ...

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Reports: St. Gobain May Sell Abrasives Unit

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, News, Subscriber Only / MDM Staff

According to recent news reports, St. Gobain has put its abrasives unit up for sale. Forbes reported that AFX News carried the news, but St. Gobain would not comment on the possible sale.

St. Gobain's abrasives unit had 2005 sales of 1.4 billion euro, 4% of the Group's total.

More Breaking ...

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Building Materials Holding Corp. Terminates Merger Agreement

Leave a Comment / Free, Top Distributor Sectors, Building Materials/Construction, News, Subscriber Only / MDM Staff

Building Materials Holding Corporation, San Francisco, CA, provider of construction services and products to the homebuilding industry, announced that its wholly owned subsidiary, SelectBuild Construction, has terminated its letter of intent to acquire Willis Roof Consulting Inc.&nbsp ;

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In October of 2006, BMHC announced SelectBuild's intention to acquire 100% of the assets and operations of Willis Roof Consulting, subject to completion of due diligence activities.

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Bidding War for ElkCorp Ends

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Building Materials/Construction, News, Subscriber Only / MDM Staff

The bidding war between The Carlyle Group and Building Materials Corporation of America for ElkCorp has ended, with The Carlyle Group dropping its offer for the roofing and building products manufacturer.

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An affiliate of Building Materials Corporation of America (BMCA), a roofing manufacturer in North America, has agreed to buy ElkCorp for $43.50 a share in cash, or about $1.12 billion, including the assumption of about $173 million in debt.

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The offer represents a 73% premium over ElkCorp's closing share price on Nov. 3, 2006, the last trading day before ElkCorp announced it was considering strategic alternatives.

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ElkCorp terminated its previous merger agreement with Carlyle.

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BMCA, ...

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International Sales Drive Emerson Growth

Leave a Comment / Free, Top Distributor Sectors, Electrical, News, Subscriber Only / MDM Staff

< Emerson, St. Louis, MO, sales for the first quarter ended Dec. 31, 2006,&nbsp ; were $5.1 billion, an increase of 11% over the $4.5 billion reported in the same period last year. Profit for the first &nbsp ; quarter increased 12% to $445 million.

Underlying international sales increased 11%, including strong growth in Europe, Asia and Latin America. This quarter marked the first time that international sales were over 50% of total&nbsp ; sales.&nbsp ; As expected, underlying growth in the U.S. was down 2% driven primarily by weakness in the&nbsp ; residential air-conditioning markets for the Climate Technologies segment, which experienced exceptionally strong growth last&nbsp ; year as the industry converted to 13-SEER ...

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February 12, 2007

HD to Evaluate Strategic Alternatives for HD Supply Business

Reports: St. Gobain May Sell Abrasives Unit

Building Materials Holding Corp. Terminates Merger Agreement

Bidding War for ElkCorp Ends

International Sales Drive Emerson Growth

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