Friday, December 01, 2006

Home Depot (HD) CEO Downplays LBO Speculation - Paper

According to reports from the Atlanta-Journal Constitution, Home Depot (NYSE: HD) CEO Bob Nardelli downplayed speculation that the company was the target of a takeover by private equity firms.

Nardelli told the paper, "somebody is probably running the number on us on any given day." He also said the media reports are, "an unfortunate distraction."

Recent reports from the New York Post suggested buyout firms Kohlberg Kravis Roberts and Texas Pacific Group have explored the possibility of a record $100 billion leveraged buyout of the home improvement giant.

Shares of Home Depot are 3.8% higher in mid-day action Friday.

Link to article

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