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Why Jim Cramer Liked Home Depot's HD Supply Deal

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Jim Cramer and his Action Alerts PLUS portfolio used to own Home Depot  (HD)  so what did he think about Home Depot buying HD Supply?

And, in case you missed it, Home Depot, the world's biggest home improvement retailer, said it would pay $56 a share for HD Supply, which distributes tools and products to the maintenance and construction sector. That's a 25% premium to HD's Friday closing price and values the Atlanta-based group at around $8 billion including group debt.

The company said the takeover would likely close before the end of its fiscal fourth quarter, which ends in January of 2021. Home Depot sold the HD Supply in the business in 2007 to three private equity groups, lead by Bain Capital LLC, for $10.3 billion. 

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