Summary
Home Depot, Inc. (HD) has officially announced the completion of its acquisition of SRS, a leading distributor of roofing and building materials. The transaction, which closed on June 17, 2024, involved a significant aggregate purchase price of approximately $18.25 billion, subject to customary closing adjustments. This strategic move is expected to expand Home Depot's reach and offerings, particularly in the professional contractor segment.
Key Highlights
- 1Home Depot has completed the acquisition of SRS for an aggregate purchase price of approximately $18.25 billion.
- 2The acquisition closed on June 17, 2024, following the satisfaction of closing conditions and receipt of regulatory approvals.
- 3The deal was structured as a merger, with SRS's Class A and Class B common stock converted into the right to receive a portion of the merger consideration.
- 4Vested, in-the-money options for SRS stock were canceled and converted into merger consideration; out-of-the-money options were forfeited.
- 5Certain SRS management team members reinvested proceeds into Home Depot common stock, some of which are subject to vesting and transfer restrictions.
- 6The company issued a press release on June 17, 2024, announcing the completion of the merger.