The Home Depot Announces Withdrawal and Refiling of Premerger Notification and Report Form under the HSR Act and Extension of Tender Offer to Acquire GMS Inc.
Home Depot (NYSE:HD) announced the withdrawal and refiling of its HSR Act premerger notification for the pending acquisition of GMS Inc. The refiling extends the antitrust review period to August 22, 2025. The all-cash tender offer remains at $110.00 per share and has been extended to match the new HSR waiting period.
As of August 6, 2025, approximately 13,208,330 shares (representing 34.7% of outstanding shares) have been validly tendered. The acquisition, initially announced on June 29, 2025, remains subject to regulatory approval and other conditions.
Home Depot (NYSE:HD) ha annunciato il ritiro e la nuova presentazione della notifica pre-fusione ai sensi della legge HSR per l'acquisizione in corso di GMS Inc. La nuova presentazione estende il periodo di revisione antitrust fino al 22 agosto 2025. L'offerta pubblica di acquisto in contanti rimane fissata a 110,00 $ per azione ed è stata prorogata per allinearsi al nuovo periodo di attesa HSR.
Al 6 agosto 2025, sono state validamente offerte in adesione circa 13.208.330 azioni (che rappresentano il 34,7% delle azioni in circolazione). L'acquisizione, inizialmente annunciata il 29 giugno 2025, resta soggetta all'approvazione normativa e ad altre condizioni.
Home Depot (NYSE:HD) anunció la retirada y nueva presentación de su notificación previa a la fusión bajo la Ley HSR para la adquisición pendiente de GMS Inc. La nueva presentación extiende el período de revisión antimonopolio hasta el 22 de agosto de 2025. La oferta pública de adquisición en efectivo se mantiene en $110.00 por acción y se ha extendido para coincidir con el nuevo período de espera HSR.
Al 6 de agosto de 2025, aproximadamente 13,208,330 acciones (que representan el 34.7% de las acciones en circulación) han sido válidamente ofrecidas. La adquisición, anunciada inicialmente el 29 de junio de 2025, sigue sujeta a la aprobación regulatoria y otras condiciones.
Home Depot (NYSE:HD)� 진행 중인 GMS Inc 인수� 대� HSR� 사전 합병 신고� 철회하고 재제출했다고 발표했습니다. 재제출로 인해 독점금지 심사 기간� 2025� 8� 22�까지 연장되었습니�. 현금 전액 공개매수 가격은 주당 110.00달러� 유지되며, 새로� HSR 대� 기간� 맞춰 연장되었습니�.
2025� 8� 6� 기준으로 � 13,208,330�(전체 발행 주식� 34.7%)가 유효하게 공개매수� 응했습니�. 2025� 6� 29� 처음 발표� 이번 인수� 규제 승인 � 기타 조건� 적용� 받습니다.
Home Depot (NYSE:HD) a annoncé le retrait et le nouveau dépôt de sa notification préalable à la fusion conformément à la loi HSR pour l'acquisition en cours de GMS Inc. Ce nouveau dépôt prolonge la période d'examen antitrust jusqu'au 22 août 2025. L'offre publique d'achat en numéraire reste fixée à 110,00 $ par action et a été prolongée pour correspondre à la nouvelle période d'attente HSR.
Au 6 août 2025, environ 13 208 330 actions (éԳٲԳ 34,7% des actions en circulation) ont été valablement proposées. L'acquisition, initialement annoncée le 29 juin 2025, reste soumise à l'approbation réglementaire et à d'autres conditions.
Home Depot (NYSE:HD) hat den Rückzug und die erneute Einreichung seiner HSR-Gesetz Voranmeldungsmitteilung für die ausstehende Übernahme von GMS Inc bekannt gegeben. Die erneute Einreichung verlängert die kartellrechtliche Prüfungsfrist bis zum 22. August 2025. Das Barangebot bleibt bei 110,00 $ pro Aktie und wurde verlängert, um mit der neuen HSR-Wartefrist übereinzustimmen.
Zum 6. August 2025 sind etwa 13.208.330 Aktien (entsprechend 34,7% der ausstehenden Aktien) gültig angeboten worden. Die Übernahme, die ursprünglich am 29. Juni 2025 angekündigt wurde, unterliegt weiterhin der behördlichen Genehmigung und weiteren Bedingungen.
- Strong shareholder support with 34.7% of shares already tendered
- Strategic acquisition to expand Home Depot's market presence
- All-cash offer provides immediate liquidity for GMS shareholders
- Extended regulatory review period could delay acquisition completion
- Additional antitrust scrutiny may indicate potential regulatory concerns
- Transaction timeline uncertainty due to possible further extensions
Insights
Home Depot's HSR refiling for GMS acquisition is a standard procedural step, not indicating regulatory issues but extending timeline by two weeks.
Home Depot's decision to withdraw and refile its HSR notification for the
The refiling doesn't necessarily signal regulatory concerns - rather, it's a strategic move that provides the DOJ's Antitrust Division additional review time while avoiding the more burdensome and time-consuming Second Request process. The extension of the tender offer deadline to align with the new HSR waiting period is procedurally required and maintains transaction momentum.
The
This procedural step extends the timeline by two weeks but doesn't materially change the transaction structure or consideration. The merger remains subject to regulatory approval but continues progressing through standard review channels rather than facing elevated scrutiny.
The Home Depot has elected to withdraw and refile its Premerger Notification and Report Form, which was initially filed on July 21, 2025, to provide the Antitrust Division of the
Consummation of the tender offer remains subject to, among other conditions, the expiration or termination of the applicable waiting period under the HSR Act. As a result, Purchaser is extending the tender offer, which was previously scheduled to expire at one minute after 11:59 p.m. Eastern time on Friday, August 8, 2025, until one minute after 11:59 p.m. Eastern time on Friday, August 22, 2025. The tender offer may be extended further in accordance with the merger agreement and the applicable rules and regulations of the
Broadridge Corporate Issuer Solutions, LLC, the depositary for the tender offer, has advised Purchaser that, as of 4:30 p.m. Eastern time on Wednesday, August 6, 2025, the last business day prior to the announcement of the extension of the tender offer, approximately 13,208,330 Shares have been validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately
D.F. King & Co., Inc. is acting as the information agent for the tender offer. Requests for documents and questions regarding the tender offer may be directed to D.F. King & Co., Inc. by telephone, toll-free at (800) 331-7543 for shareholders, or collect at (212) 771-1133 for banks and brokers.
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer. The company operates more than 2,350 retail stores, over 800 branches and more than 325 distribution centers that directly fulfill customer orders across all 50 states, the
Additional Information and Where to Find It
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities of GMS Inc. ("GMS"). The Home Depot, Inc. ("The Home Depot") and its indirect, wholly owned subsidiary, Gold Acquisition Sub, Inc., have filed a tender offer statement on Schedule TO with the
In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, The Home Depot and GMS each file annual, quarterly and current reports and other information with the SEC. The Home Depot and GMS's filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at .
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" as defined in the federal securities laws. Forward-looking statements are based on currently available information and current assumptions, expectations and projections of The Home Depot (collectively with its subsidiaries unless the context otherwise indicates, the "Company") about future events, and may use words such as "may," "will," "could," "should," "would," "anticipate," "intend," "estimate," "project," "plan," "believe," "expect," "target," "prospects," "potential," "commit" and "forecast," or words of similar import or meaning or refer to future time periods. Forward-looking statements may relate to, among other things, the proposed acquisition of GMS (the "potential acquisition"); the potential benefits of the potential acquisition, including with respect to future financial performance; the anticipated timing of closing of the potential acquisition (including to obtain necessary regulatory approvals); and the anticipated funding for the potential acquisition. Forward-looking statements are subject to substantial risks and uncertainties, including, but not limited to, the following: the possibility that the potential acquisition does not close on the anticipated timeframe or at all (including failure to obtain necessary regulatory approvals and uncertainties as to how many of GMS's stockholders will tender their shares in the tender offer); risks related to the ability to realize the anticipated benefits of the potential acquisition, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the potential acquisition making it more difficult to maintain business and operational relationships; negative effects of announcing the potential acquisition or the consummation of the potential acquisition on the market price of the Company's or GMS's common stock, credit ratings or operating results or on relationships with customers, suppliers and other counterparties; significant costs associated with the potential acquisition; unknown liabilities; the risk of litigation and/or regulatory actions related to the potential acquisition; the demand for the Company's or GMS's products and services, including as a result of macroeconomic conditions and changing customer preferences and expectations; the effects of competition; the Company's brand and reputation; implementation of interconnected retail, store, supply chain, technology innovation and other strategic initiatives, including with respect to real estate; inventory and in-stock positions; the state of the economy; the state of the housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans, and consumer and trade credit; the impact of tariffs, trade policy changes or restrictions, or international trade disputes and efforts and ability to continue to diversify the Company's supply chain; issues related to the payment methods the Company accepts; demand for credit offerings including trade credit; management of relationships with the Company's associates, jobseekers, suppliers and service providers; cost and availability of labor; costs of fuel and other energy sources; events that could disrupt the Company's business, supply chain, technology infrastructure, or demand for the Company's products and services, such as tariffs, trade policy changes or restrictions or international trade disputes, natural disasters, climate change, public health issues, cybersecurity events, labor disputes, geopolitical conflicts, military conflicts, or acts of war; the Company's ability to maintain a safe and secure store environment; the Company's ability to address expectations regarding sustainability and human capital management matters and meet related goals; continuation or suspension of share repurchases; future dividends; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; changes in interest rates; changes in foreign currency exchange rates; commodity or other price inflation and deflation; the Company's ability to issue debt on terms and at rates acceptable to the Company; the impact and expected outcome of investigations, inquiries, claims, and litigation, including compliance with related settlements; the challenges of operating in international markets; the adequacy of insurance coverage; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of legal and regulatory changes, including executive orders and other administrative or legislative actions, such as changes to tax laws and regulations; store openings and closures; and the impact of other acquired companies on the Company's organization and the ability to recognize the anticipated benefits of any other acquisitions.
These statements are not guarantees of future performance and are subject to future events, risks and uncertainties � many of which are beyond the Company's control, dependent on the actions of third parties, or currently unknown to the Company � as well as potentially inaccurate assumptions that could cause actual results to differ materially from the Company's historical experience and its expectations and projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. "Risk Factors," and elsewhere in the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2025 and also as described from time to time in reports subsequently filed by the Company with the SEC. There also may be other factors that the Company cannot anticipate or that are not described herein, generally because the Company does not currently perceive them to be material. Such factors could cause results to differ materially from the Company's expectations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission and in its other public statements.
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SOURCE The Home Depot