Lowe's Companies, Inc. (NYSE:LOW) said on November 9, 2020 it was not in talks with HD Supply Holdings, Inc. (NasdaqGS:HDS) 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.