(ABM FN-Dow Jones) Home Depot acquires SRS Distribution for $18.25 billion. The American hardware store chain announced this on Thursday.
With the acquisition, Home Depot wants to increase its exposure to the professional market. It hopes to win more orders from contractors, roofers and gardeners.
SRS is purchased from private equity firms. SRS has 760 locations across America.
Home Depot expects the deal to close this fiscal year, which ends at the end of January.
Investors do not yet know how to properly assess the situation. After the news, there is hardly any movement in the share. It now appears that Home Depot shares will open 0.5 percent lower.
Source: ABM Financial News
ABM Financial News is a supplier of stock market news, video and data, both for real-time trading platforms and dealing rooms and for online and offline media publications. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
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