ATLANTA, June 14,
2024 /PRNewswire/ -- The Home
Depot® (NYSE: HD) today announced the expiration of
the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (the "HSR Act"), in connection with its
pending acquisition of SRS Distribution Inc. ("SRS"). The
expiration of the waiting period occurred at 11:59 p.m. on June 13,
2024.
The expiration of the waiting period under the HSR Act satisfies
an important condition necessary for the completion of the
transaction.
The transaction is expected to close on or about June 18, 2024, subject to the satisfaction or
waiver of customary closing conditions.
About The Home Depot
The Home Depot is the world's largest home improvement specialty
retailer. At the end of the first quarter of fiscal year 2024, the
company operated a total of 2,337 retail stores in all 50 states,
the District of Columbia,
Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately
465,000 associates. The Home Depot's stock is traded on the New
York Stock Exchange (NYSE: HD) and is included in the Dow Jones
industrial average and Standard & Poor's 500 index.
Certain statements contained herein constitute
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may
relate to, among other things, the proposed acquisition of SRS
Distribution Inc., which involves substantial risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements (the "potential
acquisition"); statements about the potential benefits of the
potential acquisition; the anticipated timing of closing of the
potential acquisition and the possibility that the potential
acquisition does not close; risks related to the ability to realize
the anticipated benefits of the potential acquisition, including
the possibility that the expected benefits from the proposed
transaction will not be realized or will not be realized within the
expected time period; the risk that the businesses will not be
integrated successfully; disruption from the potential acquisition
making it more difficult to maintain business and operational
relationships; negative effects of announcing the potential
acquisition or the consummation of the potential acquisition on the
market price of our common stock, credit ratings or operating
results; significant costs associated with the potential
acquisition; unknown liabilities; the risk of litigation; the
demand for our products and services, including as a result of
macroeconomic conditions; net sales growth; comparable sales; the
effects of competition; our brand and reputation; implementation of
interconnected retail, store, supply chain and technology
initiatives; inventory and in-stock positions; the state of the
economy; the state of the housing and home improvement markets; the
state of the credit markets, including mortgages, home equity
loans, and consumer credit; the impact of tariffs; issues related
to the payment methods we accept; demand for credit offerings;
management of relationships with our associates, potential
associates, suppliers and service providers; cost and availability
of labor; costs of fuel and other energy sources; events that could
disrupt our business, supply chain, technology infrastructure, or
demand for our products and services, such as international trade
disputes, natural disasters, climate change, public health issues,
cybersecurity events, geopolitical conflicts, military conflicts,
or acts of war; our ability to maintain a safe and secure store
environment; our ability to address expectations regarding
environmental, social and governance matters and meet related
goals; continuation or suspension of share repurchases; net
earnings performance; earnings per share; future dividends; capital
allocation and expenditures; liquidity; return on invested capital;
expense leverage; changes in interest rates; changes in foreign
currency exchange rates; commodity or other price inflation and
deflation; our ability to issue debt on terms and at rates
acceptable to us; the impact and expected outcome of
investigations, inquiries, claims, and litigation, including
compliance with related settlements; the challenges of operating in
international markets; the adequacy of insurance coverage; the
effect of accounting charges; the effect of adopting certain
accounting standards; the impact of legal and regulatory changes,
including changes to tax laws and regulations; store openings and
closures; guidance for fiscal 2024 and beyond; financial outlook;
and the impact of acquired companies on our organization and the
ability to recognize the anticipated benefits of any
acquisitions.
Forward-looking statements are based on currently available
information and our current assumptions, expectations and
projections about future events. You should not rely on our
forward-looking statements. These statements are not guarantees of
future performance and are subject to future events, risks and
uncertainties – many of which are beyond our control, dependent on
the actions of third parties, or currently unknown to us – as well
as potentially inaccurate assumptions that could cause actual
results to differ materially from our historical experience and our
expectations and projections. These risks and uncertainties
include, but are not limited to, those described in Part I, Item
1A. "Risk Factors," and elsewhere in our Annual Report on Form 10-K
for our fiscal year ended January 28,
2024 and also as may be described from time to time in
future reports we file with the Securities and Exchange Commission.
There also may be other factors that we cannot anticipate or that
are not described herein, generally because we do not currently
perceive them to be material. Such factors could cause results to
differ materially from our expectations. Forward-looking statements
speak only as of the date they are made, and we do not undertake to
update these statements other than as required by law. You are
advised, however, to review any further disclosures we make on
related subjects in our filings with the Securities and Exchange
Commission and in our other public statements.
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SOURCE The Home Depot