Home Depot to Buy Back HD Supply in $8 Bilion Deal

Home Depot to Buy Back HD Supply in $8 Bilion Deal
The facade of The Home Depot store is seen in Evanston, Ill., on Feb. 17, 2005. Tim Boyle/Getty Images
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Home Depot Inc said on Monday it would buy HD Supply Holdings Inc in a deal valued at about $8 billion, setting itself up to regain control over the industrial materials wholesaler after spinning it off over a decade ago.

The top U.S. home improvement chain said it would offer $56 in cash for each share of HD Supply, a near 25 percent premium to the stock’s last close. HD Supply’s shares jumped 24.5 percent on the news.