Home Depot Unit Draws Bids

'Bloomberg' reports that the private equity offers are worth $10 billion.
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Home Depot's (HD) - Get Report auction of its HD Supply business will get it two $10 billion private equity bids, Bloomberg reported.

The report, citing people familiar with the negotiations, said Bain Capital, Carlyle Group and Clayton Dubilier & Rice make up one group. The second group includes Thomas H. Lee Partners and CCMP Capital Advisors,


reported. Final bids are due today, the report said.

The news comes as new CEO Frank Blake tries to reverse years of neglect of the company's core retail business by predecessor Bob Nardelli, who was driven from the executive suite in January in a flap over his outsize pay and poor performance.

Home Depot was unchanged early Friday at $37.79.