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Home Depot's shares rise on price report
Associated Press
Published August 28, 2007
Shares of the Home Depot Inc. rose Monday as investors awaited word of a deal that the retailer was selling its wholesale distribution business for nearly $2-billion less than originally planned. The reduced sale price of $8.5-billion for the Home Depot Supply division, which was confirmed Sunday by a person with direct knowledge, reflected turbulent credit conditions and a tightening housing market. As Wall Street awaited a possible announcement, analysts welcomed the reports of a deal by the world's largest home improvement store chain. Home Depot declined to comment on the deal Monday.
[Last modified August 28, 2007, 01:30:31]
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