Home Depot Gets $10 Billion Bids for Unit, People Say

Home Depot Inc., the world's largest home-improvement retailer, will receive separate offers of about $10 billion for its contractor-supplies unit from two private- equity groups, people familiar with the negotiations said.

Bain Capital LLC, Carlyle Group and Clayton Dubilier & Rice Inc. make up one group, and the other includes Thomas H. Lee Partners LP and CCMP Capital Advisors LLC, said the people, who declined to be identified because an agreement hasn't been reached. Final bids are due today, they said.

Home Depot told investors in February it would consider shedding its HD Supply unit, which sells lumber and tools to contractors. A sale would reverse former Chief Executive Officer Robert Nardelli's plan to generate 20 percent of Home Depot's revenue from the division, up from 13 percent now. The strategy was criticized by investors.

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- Posted: 2007-06-15 08:45:56

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