Home Depot Gets Canadian Clearance for GMS Tender Offer.

Home Depot has received clearance from the Canadian Competition Bureau for its tender offer to purchase all outstanding shares of GMS at $110 per share. This satisfies the remaining antitrust law-related condition for the merger agreement. Consummation of the tender offer is subject to other conditions, including the tender of a majority of GMS shares and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Atlanta, July 2, 2025 — The Home Depot has received a no-action letter from the Canadian Competition Bureau, clearing the way for its tender offer to purchase all outstanding shares of GMS Inc. The offer, at $110 per share, represents a significant step forward in The Home Depot's strategic expansion plans [1].

The Canadian Competition Bureau's clearance satisfies the remaining antitrust law-related conditions necessary for the consummation of the merger agreement between The Home Depot, its wholly-owned subsidiary Gold Acquisition Sub, Inc., and GMS Inc. The merger agreement, dated June 29, 2025, outlines the terms and conditions for the acquisition [1].

The tender offer, which is subject to certain conditions, is set to expire at one minute after 11:59 p.m. Eastern time on Wednesday, September 3, 2025, unless extended or terminated earlier in accordance with the merger agreement and applicable rules and regulations [1]. Holders of GMS shares are encouraged to carefully review the relevant tender offer materials, which are available on the SEC's website at www.sec.gov [1].

The Home Depot, with over 2,353 retail stores, 800 branches, and 325 distribution centers across various regions, is the world's largest home improvement specialty retailer. The company employs over 470,000 associates and is listed on the New York Stock Exchange (NYSE: HD) [1].

The acquisition of GMS Inc. is expected to provide strategic benefits, including expanded market reach and operational efficiencies. However, the consummation of the tender offer remains subject to several conditions, including the tender of a majority of GMS shares and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act [1].

Investors and financial professionals are advised to monitor the progress of this acquisition closely, as it may have implications for the future financial performance and market position of The Home Depot [1].

References:
[1] https://www.prnewswire.com/news-releases/the-home-depot-announces-receipt-of-clearance-from-the-canadian-competition-bureau-for-acquisition-of-gms-inc-302541739.html