Home Depot may agree to lower price of HD Supply

<p>Home improvement retailer The Home Depot Inc. said Thursday it may change the terms and financing of its agreement for the sale of its supply unit, which could result in a drop in the $10.33 billion sale price.</p><p>Home Depot said it is now in talks with affiliates of Bain Capital Partners, The Carlyle Group and Clayton, Dubilier & Rice to change the agreement to sell HD Supply, which serves contractors, homebuilders and other business customers.</p><p>The private-equity groups agreed to buy the business in June.</p><p>The company also said it will lower the price of its modified Dutch tender offer to between $37 and $42 per share from between $39 and $44. In July, Home Depot announced the tender offer to buy up to 250 million shares of its stock.</p><p>Home Depot said the tender offer price change was due to "current financial market conditions."</p><p>The company also extended the expiration date to Aug. 31.</p><p>As of Aug. 8, the total number of shares tendered was about 3.1 million.</p>

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