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00:02Bank of America's security analyst Robert F. Ohms maintained a buy rating on Home Depot with a $450 price target.
00:08Call files news that SRS distribution acquired by Home Depot for $18.25 billion purchased GMS Incorporated for $110 per share, or roughly $4.3 billion.
00:19GMS is a major distributor of specialty building products with $5.5 billion in sales for 2024, adding a new vertical to SRS's portfolio.
00:26The deal is expected to close by the end of 2025 and may finalize sooner based on prior acquisition timelines.
00:33Home said the GMS acquisition adds a new vertical to SRS and is expected to complement its business due to overlapping customers and similar distribution capabilities.
00:41HD shares rose 2.69% on Tuesday, while GMS gained 0.15%.
00:46For all things money, visit Benzinga.com.
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