By Kristin Jones
U.S. Home Systems Inc. (USHS) said its go-shop period has ended,
paving the way for Home Depot Inc. (HD) to move forward with its
planned acquisition of the supplier of kitchen, bath and storage
products.
Home Depot, the largest home-improvement retailer by sales, said
last month it had agreed to acquire U.S. Home Systems for about $93
million.
U.S. Home Systems said Thursday it expects the deal to close in
the fourth quarter of the calendar year, subject to closing
conditions, including the approval of its shareholders.
The company said it intended to fight four actions that have
been filed seeking to stop the merger.
For 2011, Dallas's U.S. Home Systems reported revenue of $164.9
million. Among the company's products are a new line of Martha
Stewart Living kitchen-cabinet-refacing products, popular with Home
Depot customers.
U.S. Home Systems shares closed Thursday at $12.45 and were
unchanged after hours. The stock is up 87% so far this year.
Home Depot shares were down 0.1% after hours to $57.62. The
stock is up 37% so far this year.
Write to Kristin Jones at kristin.jones@dowjones.com
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