Report: Banks Reluctant to Lend Money in HD Supply Deal
According to news reports, Home Depot negotiations with a trio of private equity firms that had agreed to buy HD Supply are still in the works. The parties could lower the price by at least $1 billion, or the sale could fall through, Bloomberg reports.
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Apparently, the banks involved -Merrill Lynch & Co, JPMorgan Chase & Co. and Lehman Brothers Holdings Inc. -are reluctant to lend the money to enable the buy due to a tightening credit market.
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The deal for the $12 billion unit was scheduled to close Thursday, but no parties have announced a resolution.
More on M & A trends in distribution  ; can be found in the MDM Special Report: Distribution M & A 2007 Update. Or  ; ...
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