LOW - Lowe's Quashes Speculation About HD Supply Buyout
Lowe's (NYSE: LOW) says it is not about to put building products distributor HD Supply Holdings (NASDAQ: HDS) in its shopping basket. Responding to a report in Bloomberg that it had approached HD Supply for preliminary talks regarding an acquisition, Lowe's has emphatically denied this.
"While it is the Company's practice to not comment on rumors or speculation, we believe it is important to note that Lowe's is not in discussions with HD Supply and we have no plans to pursue a transaction with them," the company wrote in a tersely worded press release published on Tuesday. It added that it doesn't intend to comment further.
Image source: Lowe's.
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Lowe's Quashes Speculation About HD Supply Buyout