Hughes Considers Strategic Alternatives; Speculation On Company Buyout Continues

Stoked by rumors of a possible Home Depot acquisition bid, Hughes Supply’s stock traded at more than 10 times its usual daily volume on Nov. 2 after the company said it was looking at “strategic alternatives” to maximize shareholder value.

The Orlando-based Hughes traded at 4.5 million shares — more than 10 times its usual daily volume — to close at $36.75 on Nov. 2.

The announcement of a review of “strategic alternatives,” follows speculation that Atlanta-based Home Depot Inc

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