India, June 30 -- GMS Inc. (GMS), a specialty building products distributor, said on Monday that it has inked a deal with The Home Depot (HD), a home improvement retailer, to be acquired by its specialty trade distribution subsidiary, SRS Distribution, for $110 per share.
Post-transaction, SRS will broaden its offerings for professional contractors with the addition of GMS' wallboard, ceilings, steel framing, and complementary product categories.
Under the terms, a subsidiary of SRS will commence a tender offer to acquire all shares of GMS for $110 per share, for a total enterprise value, including net debt, of around $5.5 billion. The $110 per-share consideration represents a premium of around 36% to GMS' share price as of June 18.
The ...