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Lowe's Issues Statement Regarding Market Rumours

Lowe's store with ride-on lawnmowers 725 x 500.jpg

Yesterday, Bloomberg News reported that Lowe's is in preliminary talks to acquire HD Supply, a building materials distributor which used to be owned by Home Depot.

The article stated that people familiar with the matter had said that the two companies had been discussing a deal with advisers, though no final decision had been made.

Lowe's Companies, Inc. (NYSE: LOW) today issued the following statement in response to the media reports: 

While it is the Company's practice to not comment on rumors or speculation, we believe it is important to note that Lowe's is not in discussions with HD Supply and we have no plans to pursue a transaction with them.

"The Company does not intend to make further statements regarding this matter."

Source : Lowe's

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10 November 2020

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