DALLAS and ATLANTA, Aug. 7, 2012 /PRNewswire/ — The Home Depot® and U.S. Home Systems, Inc. (“USHS”) today appear a absolute alliance acceding for The Home Depot to access USHS. USHS, based in Irving, Texas, is currently an absolute provider of kitchen and ablution refacing articles and casework as able-bodied as closet and barn authoritative systems to The Home Depot.
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Under the acceding of the agreement, The Home Depot will access USHS for $12.50 per allotment in banknote which represents an about 38% exceptional over USHS’ closing amount on The NASDAQ Global Market on August 6, 2012. The acceding was absolutely accustomed by USHS’s lath of directors. The accretion is accepted to abutting by the end of the agenda year, and is accountable to approval by USHS stockholders, applicative authoritative approval and accepted closing conditions.
“The Home Depot has had a abiding accord with USHS. By formally bringing USHS into The Home Depot family, we apprehend to added enhance our customers’ home account experience,” said Kevin Hofmann, chief carnality president-Home Services, The Home Depot.
“The USHS lath of admiral conducted a absolute analysis of the company’s alternatives to enhance stockholder value, and we are admiring that this transaction appropriately recognizes the amount of USHS’ relationships and solutions, while accouterment our stockholders with an adorable banknote exceptional for their investment,” said Murray H. Gross, president, CEO & chairman, USHS.
Bryant Park Capital Securities, Inc. is acting as absolute banking adviser to USHS. Bryant Park Capital Valuation Casework LLC (an associate of Bryant Park Capital Securities, Inc.) has rendered a candor assessment to the Lath of Admiral of USHS in affiliation with the transaction. Jackson Walker L.L.P. is acting as acknowledged adviser to USHS.
J.P. Morgan Securities LLC is confined as The Home Depot’s absolute banking adviser and King & Spalding LLP is acting as acknowledged adviser to The Home Depot.
About The Home Depot
The Home Depot is the world’s better home advance specialty retailer, with 2,255 retail food in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China. In budgetary 2011, The Home Depot had sales of $70.4 billion and balance of $3.9 billion. The aggregation employs added than 300,000 associates. The Home Depot’s banal is traded on the New York Banal Exchange (NYSE: HD) and is included in the Dow Jones automated boilerplate and Standard & Poor’s 500 index.
About U.S. Home Systems, Inc.
U.S. Home Systems, Inc. articles or procures, designs, sells and installs custom affection specialty home advance products. The company’s artefact curve accommodate kitchen chiffonier refacing articles activated in kitchen remodeling, bath tub liners and bank beleaguer articles activated in bath remodeling, and accumulator alignment systems for closets and garages. The aggregation articles its own chiffonier refacing articles and bath cabinetry. The aggregation employs added than 1,000 assembly and operates a civic arrangement of over 40 annex offices. USHS’ banal is traded on the NASDAQ Global Market (NASDAQ: USHS).
Certain statements independent in this columnist absolution accommodate advanced statements aural the acceptation of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, added than statements of absolute facts, including, amid others, statements apropos the advancing accretion of USHS by The Home Depot, are advanced statements. Those statements accommodate statements apropos the intent, acceptance or accepted expectations of USHS and The Home Depot and associates of their corresponding administration teams, as able-bodied as the assumptions on which such statements are based, and about are articular by the use of words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should” or agnate expressions. Advanced statements are not guarantees of approaching achievement and absorb risks and uncertainties that absolute after-effects may alter materially from those advised by such advanced statements. Many of these factors are above USHS’ and The Home Depot’s adeptness to ascendancy or predict. Such factors include, but are not bound to, any altitude imposed in affiliation with the merger, approval of the alliance acceding by USHS’ stockholders, the achievement of assorted added altitude to the closing of the alliance advised by the alliance agreement, and added factors discussed in USHS’ and The Home Depot’s Annual Reports on Form 10-K for the budgetary years concluded December 31, 2011 and January 29, 2012, respectively, and their added corresponding filings with the Securities and Exchange Commission (the “SEC”). These risks and uncertainties should be advised in evaluating any advanced statements independent herein.
Additional Advice and Where to Find It
In affiliation with the proposed alliance and appropriate stockholder approval, USHS will book a proxy account and added abstracts with the SEC. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT USHS AND THE MERGER. Investors and aegis holders may access chargeless copies of these abstracts (when they are available) and added abstracts filed with the SEC at the SEC’s web armpit at www.sec.gov. In addition, the abstracts filed by USHS with the SEC may be acquired chargeless of allegation by contacting Robert A. DeFronzo, at 2951 Kinwest Parkway, Irving Texas 75063. USHS filings with the SEC are additionally accessible on its website at Media
Participants in the Address
USHS and its admiral and admiral and The Home Depot and its admiral and admiral may be accounted to be participants in the address of proxies from USHS stockholders with account to the merger. Advice about USHS admiral and admiral and their buying of USHS accepted shares is set alternating in the proxy account for the USHS 2012 Annual Meeting of Stockholders, which was filed with the SEC on April 24, 2012. Advice about The Home Depot admiral and admiral is set alternating in the proxy account for The Home Depot 2012 Annual Meeting of Stockholders, which was filed with the SEC on April 2, 2012. Investors and aegis holders may access added abundant advice apropos the absolute and aberrant interests of the participants in the address of proxies in affiliation with the alliance by account the basic and absolute proxy statements apropos the merger, which will be filed by USHS with the SEC.
SOURCE The Home Depot
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