Home Depot (HD) Extends Tender Offer Expiration for GMS Deal

The Home Depot, Inc. (NYSE:HD) is one of the top stock picks in Ken Griffin’s portfolio. On August 25, the company extended the expiration date of its tender offer for the proposed acquisition of GMS Inc. for $110 a share.

Home Depot (HD) Extends Tender Offer Expiration for GMS Deal

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The offer is now set to expire on September 3, 2025. The additional time from August 22 2025 is poised to give the company extra time to satisfy remaining conditions under the Canadian Competition Act. As of the previous expiration date, only 29.31 million shares representing 77% of the GMS outstanding shares had been tendered for and not withdrawn.

Additionally, the proposed acquisition of GMS remains subject to regulatory approval. Home Depot is pushing to acquire the building products distributor as it seeks to strengthen its prospects in the market for professional contractors. It follows the $18 billion landmark acquisition of SRS Distribution, which allowed it to win a larger share of the massive professional contractor segment.

The Home Depot, Inc. (NYSE:HD) is the world’s largest home improvement retailer, operating over 2,300 stores that offer a wide selection of tools, building materials, appliances, and services for both DIY and professional projects. The company sells products for home repair and construction, offers contractor supplies and professional services, and provides rentals for tools and equipment.

While we acknowledge the potential of The Home Depot, Inc. (NYSE:HD) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HD and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.