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Stock Alert: HD Supply Holdings To Sell Whitecap Biz For $2.9 Bln, Driving Stock Up 12%

(RTTNews) - Shares of HD Supply Holdings, Inc. (HDS) gained 12% on Tuesday morning after the company announced that it will sell its Whitecap business to private-equity firm Clayton, Dubilier & Rice for $2.9 billion in cash.

HDS is currently trading at $42.79, up $4.55 or 11.91%, on the Nasdaq.

HD Supply Holdings Inc. (HDS) will sell its construction and industrial business, known as White Cap, to Clayton, Dubilier & Rice.

The transaction is expected to close in October 2020, subject to customary regulatory approvals.

HD Supply expects to use the proceeds to return capital to HD Supply shareholders, fund M&A activity and repay debt.
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