HD Supply Holdings (NASDAQ: HDS) shares have rallied premarket on Monday after it was announced that the company will be acquired by Home Depot (NYSE: HD).
HD Supply Holdings is one of the largest industrial goods wholesale distributors in the US, and Home Depot has agreed to buy the company for approximately $8 billion of $56 per share.
The deal represents a near 25% increase on the stocks last close.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“The Board and I believe the strategic acquisition by The Home Depot, Inc. will create significant benefits for our customers, associates, and shareholders,” commented Joe DeAngelo, Chairman and CEO of HD Supply.
HD Supply shares surged after the announcement and are currently trading at $55.70, up 24.30% from Friday’s close of $44.81. Home Depot shares are slightly lower premarket at $276, or -0.42%.
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