About: http://data.cimple.eu/news-article/9a348f08aff8f249cd883a6442ab4d925a5842adbc816f11e7bc2b7d

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About: http://data.cimple.eu/news-article/9a348f08aff8f249cd883a6442ab4d925a5842adbc816f11e7bc2b7d Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	North American hardware retailer The Home Depot on Monday announced plans to re-acquire wholesaler HD Supply Holdings in an $8 billion deal set to close early next year. The announcement comes ahead of The Home Depot's third-quarter earnings release on Tuesday. The company's profits surged 24.5 percent in the second quarter to $4.3 billion as consumers, home-bound during the coronavirus pandemic and assisted by US government stimulus payments, invested in improvements to their properties. Wholesale distributor HD supply operates distribution centers in the United States and Canada, and was formerly a unit of The Home Depot before being sold in 2007. "This acquisition will position the company to accelerate sales growth by better serving both existing and new customers in a highly fragmented $55 billion marketplace," said CEO Craig Menear said in a statement. Under the deal's terms, The Home Depot will purchase all of HD Supply's stock for $56 a share by raising new debt and using cash on hand, with the sale set to be finalized at the end of the company's fiscal quarter finishing on January 31, according to the statement. "We're thrilled that our associates are joining the Home Depot team and that our customers will be able to benefit from a broader product assortment, expanded delivery options and enhanced services nationally," HD Supply's chief Joe DeAngelo said. HD Supply surged 24.2 percent at the open of US trading. Home Depot was up 0.6 percent. cs/hs
schema:headline	Home Depot to acquire HD Supply in $8 bn deal
schema:mentions	The Home Depot Canada Chief executive officer Pandemic United States Severe acute respiratory syndrome coronavirus 2 HD Supply Craig Menear
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-11-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	75 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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