Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, September 4, 2007

Home Depot Halfway Through Stock Buyback

About 290 million Home Depot Inc. shares were tendered in response to the company's modified Dutch auction tender offer. Home Depot said it would repurchase 289.6 million shares at $37 a share, or a total of $10.7 billion, bringing to 48 percent of its previously stated goal of a $22.5-billion buyback.  The company will use about $8 billion in net proceeds from its sale of HD Supply, and $2.7 billion in cash for the repurchases. CFO.com, Home Depot Halfway to $22.5b Buyback Goal.

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