Home Depot May Lower Supply Unit Price by $1 Billion |
| Bloomberg - Aug 24, 2007 |
Home Depot Inc., the home- improvement retailer that agreed in June to sell its contractor- supply business, may cut the original $10.3 billion price by about $1 billion to salvage the deal, two people with knowledge of the matter said.
Negotiations with private-equity firms Bain Capital LLC, Carlyle Group and Clayton Dubilier & Rice and their banks continued as a deadline approached last night, said the people, who asked not to be identified. It was possible that the sale would fall through, they said.
Home Depot, based in Atlanta, said on Aug. 9 that the price for its HD Supply unit might be reduced, and later extended the date to complete the deal to yesterday. The subprime mortgage crisis has curbed demand for leveraged-buyout debt, forcing private-equity firms and their lenders to provide terms more palatable to investors.
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- Posted: 2007-08-24 10:33:43
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