HD - Home Depot buys back HD Supply

Home Depot (HD) strikes a deal to acquire HD Supply Holdings (HDS) for $56 per share in cash.The boards of both companies have unanimously approved the deal.The acquisition is structured as an all-cash tender offer for all outstanding shares of HD Supply followed by a merger in which remaining shares of HD Supply would be converted into the same U.S. dollar per share consideration as in the tender offer.The acquisition is expected to be completed during Home Depot Q4, which ends on January 31.Home Depot set HD Supply free in an IPO back in 2013Source: Press ReleaseShares of HD Supply are up 24.30% to $55.70.Last week: HD Supply pops on report of Lowe's interest

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Home Depot buys back HD Supply