Home Depot had announced last June that it would
sell the division for more than $10 billion to private equity firms, Bain
Capital LLC, Carlyle Group and Clayton Dubilier & Rice. But both seller and
buyer had to renegotiate since the housing market continued to reach lower
levels since the original deal and easy credit to finance such acquisitions
dried up.
The news agencies reported today that the
buyout group will put in an extra $450 million in upfront money, and that Home
Depot will take on $1 billion of the supply unit’s debt and also keep a 10
percent stake. However, both news services reported that a final deal has not
been signed.