Home Depot-GMS deal gets clearance from Canadian Competition Bureau

[The Home Depot Store]
phillyskater/iStock Editorial via Getty Images

Home Depot (NYSE:HD [https://seekingalpha.com/symbol/HD]) said [https://seekingalpha.com/pr/20215833-the-home-depot-announces-receipt-of-clearance-from-the-canadian-competition-bureau-for] on Friday that it has obtained clearance from the Canadian Competition Bureau for the proposed acquisition of GMS (NYSE:GMS [https://seekingalpha.com/symbol/GMS]).

Late June, HD struck a deal [https://seekingalpha.com/news/4463630-home-depot-makes-a-major-pro-contractor-play-by-acquiring-gms-for-55b] to acquire GMS for $110 a share.

Approval from the Canadian Competition Bureau came in the form of a no-action letter.

The no-action letter satisfies the remaining antitrust law-related condition necessary for the proposed acquisition.

The tender offer by Home Depot to acquire all outstanding shares of GMS is set to expire at one minute after 11:59 PM ET on Wednesday, September 3.

MORE ON HOME DEPOT, GMS

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* Home Depot Vs. Lowe's: Contemplating Selling 1 In Favor Of The Other [https://seekingalpha.com/article/4816496-home-depot-vs-lowes-contemplating-selling-1-in-favor-of-the-other]
* Home Depot: From Stalwart To Stalled Out But For How Long? [https://seekingalpha.com/article/4815214-home-depot-from-stalwart-to-stalled-out-but-how-long]
* The Home Depot extends tender offer for GMS [https://seekingalpha.com/news/4488715-the-home-depot-extends-tender-offer-for-gms]