Home Depot committed to recapitalization plan, sets date for Dutch auction tender offer to end

By Lisa Kerner

Charlotte, N.C., Aug. 30 - The Home Depot said its Dutch auction tender offer for up to 250 million shares priced at $37 to $42 per share will end at 5 p.m. ET on Aug. 31. In June, the company announced the tender offer as part of its $22.5 billion recapitalization plan.

Home Depot completed the sale of its HD Supply business for $8.5 billion to a private equity consortium. Originally, the company agreed to sell HD Supply for $10.325 billion to the consortium consisting of Bain Capital Partners, the Carlyle Group and Clayton, Dubilier & Rice affiliates.

The company has a 12.5% equity interest for which it paid $325 million and guaranteed a $1 billion senior secured loan of HD Supply.

Home Depot is an Atlanta-based home improvement retailer. HD Supply distributes wholesale construction, industrial and maintenance supplies.

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