(Reuters) - Home improvement retailer Lowe's Cos Inc LOW.N said on Monday it was not in talks with HD Supply Holdings Inc HDS.O to buy the construction materials supplier, denying a media report that surfaced earlier in the day.
“Lowe’s is not in discussions with HD Supply and we have no plans to pursue a transaction with them,” the company said in a statement.
Bloomberg News first reported the discussion, citing people familiar with the matter. The news sent shares of HD Supply surging 17% after the bell, while those of Lowe’s gained 1%.
The report bloom.bg/3k8xvgIalso noted it was unclear if HD Supply was talking to other suitors.
HD Supply did not immediately respond to Reuters’ requests for comment.
Reporting by Praveen Paramasivam and Nivedita Balu in Bengaluru; Editing by Ramakrishnan M.
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