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| The Home Depot &Hughes Supply: an ideal strategic fit The Home Depot, the world's largest home improvement retailer, and Hughes Supply, Inc., a leading distributor of construction, repair and maintenance products, announced a definitive agreement for The Home Depot to acquire Hughes Supply for an aggregate consideration of $3.47 billion, including the payment of $46.50 per outstanding share and the assumption of $285 million in net debt. Hughes Supply will be part of The Home Depot Supply. The addition of Hughes Supply more than doubles the size of The Home Depot Supply with projected 2006 combined sales approaching $12 billion. Together, the two companies will serve a $410 billion market, addressing the continuum from infrastructure and construction to maintenance, repair and remodel. "As part of our expand strategy, The Home Depot and Hughes Supply are an ideal strategic and operational fit for each other, and we look forward to welcoming the Hughes Supply team into The Home Depot family," said Bob Nardelli, chairman, president & CEO of The Home Depot. write your comments about the article :: © 2006 Construction News :: home page |