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.