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Home Depot Secures Antitrust Clearance for GMS Deal in the US

By  |  August 21, 2025

Home Depot announced that it has received early termination of the Hart-Scott-Rodino waiting period from the U.S. Department of Justice’s Antitrust Division for its planned acquisition of GMS Inc. According to investing.com, the approval marks an important milestone for the $401 billion retailer’s tender offer to buy all outstanding GMS shares at $110 each in cash. The offer is scheduled to expire on August 22.

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    The clearance in the U.S. brings Home Depot closer to finalizing the deal, though additional hurdles remain. Per investing.com, the transaction still requires regulatory approval under Canada’s Competition Act and the acceptance of a majority of GMS shares before closing can occur. The acquisition agreement between the two companies was first announced on June 29, 2025.

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    Home Depot, recognized as the world’s largest home improvement retailer, operates more than 2,353 retail stores, 800 branches, and 325 distribution centers across North America, employing over 470,000 people. While the company described the GMS acquisition as a strategic move, it did not provide details on how the purchase might shape its broader operations or financial outlook.

    Investor focus has also been directed toward Home Depot’s recent quarterly performance. According to investing.com, the retailer reported a 1.4% rise in U.S. comparable sales—its strongest in more than two years—driven by a 3.3% increase in July sales. Several investment banks have since adjusted their views: RBC Capital raised its target to $401, UBS reaffirmed a Buy rating with a $475 target, Baird lifted its projection to $450, and Goldman Sachs set its price target at $444, citing solid revenue momentum. KeyBanc, however, maintained a Sector Weight rating, noting that while results were slightly below expectations, underlying consumer demand showed improvement.

    Source: investing.com