The Home Depot to buy 14.6% of its stock in Dutch auction tender offer

By Lisa Kerner

Charlotte, N.C., Sept. 4 - The Home Depot, Inc. expects to purchase some 289.6 million shares, or 14.6%, of its common stock for a total of $10.7 billion in its Dutch auction tender offer that ended on Friday.

The purchase price is $37 per share, according to a company news release.

Based on the preliminary results, the proration factor for the offer will be 99.8%.

The tender offer was part of Home Depot's planned $22.5 billion recapitalization announced in June.

It was previously reported that 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.

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

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