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Fate of Home Depot Unit Sale in Flux

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Talks over restructuring a $10.3 billion deal to sell Home Depot Inc.'s wholesale distribution business went down to the wire Thursday, the expected closing date for the agreement.

The Atlanta-based retailer has hinted the deal could fall through. Or Home Depot may have to lower the price.

A spokeswoman declined to comment on whether the deal will be completed. Investors were edgy, sending Home Depot shares down 72 cents, or 2.1 percent, to $34.05 in afternoon trading.

During a speech before the Rotary Club of Atlanta on Monday, Chief Executive Frank Blake said the deal to sell HD Supply is 'hopefully' going to close 'sometime very soon.' He didn't address the issue further.

Last week, the world's largest home improvement store chain said the expected closing date of the sale of HD Supply had been extended by a week, from Aug. 16 to Thursday.

Link.

Update: The sale price is down about $2 billion.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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