Merger activity increased last week with four new deals announced and three deals completed.
There have been a total of ten new deals announced in the month of November so far.
On November 16, 2020, The Home Depot (HD) announced the acquisition of its old subsidiary, HD Supply Holdings (HDS) for $56.00 per share at a premium of 25% to the closing price of HDS prior to the announcement. In 2007, The Home Depot had sold HD Supply to private equity firm Clayton, Dubilier and Rice for $8.3 billion. Given the high demand for home building products on account of the pandemic, this deal makes a lot of sense for Home Depot. It is interesting that they chose not to use their more expensive stock to acquire the company and instead opted for an all cash deal.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There were two new deals announced in the Deals in the Works section last week.