# EDGAR Filing Document

**Accession Number:** 0001600438
**File Stem:** 0001140361-25-032146
**Filing Date:** 2025-8
**Character Count:** 20344
**Document Hash:** 2cc36e30fb6d663e18cdb34331fbb8cd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-032146.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0001140361-25-032146

**CONFORMED SUBMISSION TYPE**: SC TO-T/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**GROUP MEMBERS**: GOLD ACQUISITION SUB, INC.

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GMS Inc.
- **CENTRAL INDEX KEY:** 0001600438
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** SC TO-T/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89877
- **FILM NUMBER:** 251238463

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CRESCENT CENTRE PARKWAY
- **STREET 2:** SUITE 800
- **CITY:** TUCKER
- **STATE:** GA
- **ZIP:** 30084
- **BUSINESS PHONE:** 800-392-4619

**MAIL ADDRESS:**
- **STREET 1:** 100 CRESCENT CENTRE PARKWAY
- **STREET 2:** SUITE 800
- **CITY:** TUCKER
- **STATE:** GA
- **ZIP:** 30084

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GYP Holdings I Corp.
- **DATE OF NAME CHANGE:** 20140218
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HOME DEPOT, INC.
- **CENTRAL INDEX KEY:** 0000354950
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS [5211]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 953261426
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0201

**FILING VALUES:**
- **FORM TYPE:** SC TO-T/A

**BUSINESS ADDRESS:**
- **STREET 1:** 2455 PACES FERRY ROAD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30339-4024
- **BUSINESS PHONE:** 770-433-8211

**MAIL ADDRESS:**
- **STREET 1:** 2455 PACES FERRY ROAD
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30339-4024

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HOME DEPOT INC
- **DATE OF NAME CHANGE:** 19920703

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549 <br>

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### SCHEDULE TO

#### Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1)

#### of the Securities Exchange Act of 1934

#### (Amendment No. 3) <br>

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## GMS INC.

#### (Name of Subject Company) <br>

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### GOLD ACQUISITION SUB, INC.
(Offeror)

#### an indirect wholly-owned subsidiary of

### THE HOME DEPOT, INC.

#### (Parent of Offeror)

#### (Names of Filing Persons)

#### Common stock, par value $0.01 per share

#### (Title of Class of Securities)

#### 36251C103

#### (CUSIP Number of Class of Securities)

#### Teresa Wynn Roseborough

#### The Home Depot, Inc.

#### 2455 Paces Ferry Road

#### Atlanta, Georgia 30339
(770) 852-9000

#### (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)

#### With a copy to:

#### Michael J. Aiello, Esq.

#### Michelle A. Sargent, Esq.

#### Weil, Gotshal & Manges LLP

#### 767 Fifth Avenue

#### New York, NY 10153
(212) 310-8000

&nbsp;&nbsp;&nbsp;&nbsp;☒ Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement
 number, or the Form or Schedule and the date of its filing.

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| | |
|:---|:---|
| Amount Previously Paid: $663,861.58 | Filing Party: Gold Acquisition Sub, Inc. and The Home Depot, Inc. |
| Form or Registration No.: Schedule TO-T (005-89877) | Date Filed: July 14, 2025 |

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☐ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

☒ third-party tender offer subject to Rule 14d-1.

☐ issuer tender offer subject to Rule 13e-4.

☐ going-private transaction subject to Rule 13e-3.

☐ amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

☐ Rule 13e-4(i) (Cross-Border Issuer Tender Offer) <br> ☐ Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

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This Amendment No. 3 (this "Amendment") amends and supplements the Tender Offer Statement on Schedule TO filed by Gold Acquisition Sub, Inc., a Delaware corporation ("Purchaser") and an indirect wholly owned subsidiary of The Home Depot, Inc., a Delaware corporation ("The Home Depot"), with the U.S. Securities and Exchange Commission on July 14, 2025 (together with any amendments or supplements thereto, including this Amendment, the "Schedule TO"). The Schedule TO relates to the offer by Purchaser to purchase all of the outstanding shares of common stock, par value $0.01 per share (the "Shares"), of GMS Inc., a Delaware corporation ("GMS"), at a price of $110.00 per share in cash, without interest and subject to any required withholding of taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated July 14, 2025 (the "Offer to Purchase"), a copy of which is attached as Exhibit (a)(1)(A) to the Schedule TO, and in the related letter of transmittal (the "Letter of Transmittal"), a copy of which is attached as Exhibit (a)(1)(B) to the Schedule TO, which, as each may be amended or supplemented from time to time, collectively constitute the "Offer."

All information regarding the Offer as set forth in the Schedule TO, including all exhibits and annexes thereto that were previously filed with the Schedule TO, is hereby expressly incorporated by reference in response to Items 1 through 9 and Item 11 of this Schedule TO and is supplemented by the information specifically provided in this Amendment, except as otherwise set forth below. This Amendment should be read together with the Schedule TO. Capitalized terms used but not defined in this Amendment have the meanings ascribed to them in the Schedule TO.

#### Items 1 through 9 and Item 11.

The Offer to Purchase and Items 1 through 9 and Item 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in the Offer to Purchase, are hereby amended and supplemented as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The subsection entitled "*Compliance with the HSR Act*" in Section 16 "Certain Legal Matters; Regulatory Approvals" is
 amended and supplemented by deleting the second paragraph and replacing it with the following paragraph: "Under the HSR Act, our purchase of Shares in the Offer may not be consummated until the expiration of a fifteen (15) calendar day waiting period following the
 filing by The Home Depot, on behalf of Purchaser, of a Premerger Notification and Report Form concerning the Offer with the FTC and the Antitrust Division, unless the waiting period is earlier terminated. On August 20, 2025, the Antitrust
 Division granted a request for the early termination of the waiting period under the HSR Act."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The subsection entitled "*Compliance with the Canadian Competition Act*" in Section 16 "Certain Legal Matters; Regulatory
 Approvals" is amended and supplemented by adding the following at the end of the first paragraph of such subsection: "As a result, the required waiting period with respect to the Offer will expire in the ordinary course at 11:59 P.M., Eastern Time, on September 5, 2025, thirty (30) calendar
 days from the date of such filing was certified as complete, unless (i) earlier terminated by the Competition Bureau or (ii) the Competition Bureau issues a Supplementary Information Request."

#### Item 12. Exhibits.

Item 12 of the Schedule TO is hereby amended and supplemented by adding the following exhibits:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [(a)(5)(C)\*](ny20051819x4_ex-a5c.htm) | [Press Release issued by The Home Depot, dated August 21, 2025.](ny20051819x4_ex-a5c.htm) |

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 \* Filed herewith.<br>

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#### SIGNATURES

After due inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: August 21, 2025

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| | |
|:---|:---|
|  **GOLD ACQUISITION SUB, INC.** | **GOLD ACQUISITION SUB, INC.** |
|  By: | /s/ Richard V. McPhail |
| Name: | Richard V. McPhail |
| Title: | Vice President and Treasurer |

---

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| | |
|:---|:---|
|  **THE HOME DEPOT, INC.** | **THE HOME DEPOT, INC.** |
|  By: | /s/ Richard V. McPhail |
| Name: | Richard V. McPhail |
| Title: | Executive Vice President and Chief Financial Officer |

---

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## Ex-99.(A)(5)(C)

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**Exhibit (a)(5)(C)**<br>

![](ny20051819x4_ex-a5cimg1.jpg)

#### The Home Depot Announces Early Termination of HSR Act Waiting Period for Tender Offer to Acquire GMS Inc.

**ATLANTA, Georgia** – August 21, 2025 – The Home Depot® announced today that the Antitrust Division of the U.S. Department of Justice has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), in connection with The Home Depot's previously announced tender offer to purchase, through its wholly owned subsidiary Gold Acquisition Sub, Inc. ("Purchaser") and subject to certain conditions, all of the outstanding shares of common stock of GMS (the "Shares"), at a price of $110.00 per Share in cash, without interest and subject to any required withholding of taxes.

The termination of the waiting period under the HSR Act satisfies one of the conditions necessary for the consummation of the tender offer and the transactions under the previously announced merger agreement, dated June 29, 2025, by and among The Home Depot, Purchaser and GMS (the "merger agreement"). Consummation of the tender offer remains subject to, among other conditions, the expiration of the applicable waiting period under the Canadian Competition Act and the tender, as of immediately prior to the Expiration Time (as defined below), of a majority of the Shares then outstanding.

The tender offer will expire at one minute after 11:59 p.m., Eastern time, on Friday August 22, 2025, unless the tender offer is otherwise extended further or earlier terminated in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (such time, the "Expiration Time").

#### About The Home Depot

The Home Depot is the world's largest home improvement specialty retailer. At the end of the second quarter, the company operated more than 2,353 retail stores, over 800 branches and more than 325 distribution centers that directly fulfill customer orders across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

#### For more information, contact:

*Financial Community* Isabel Janci Vice President of Investor Relations and Treasurer 770-384-2666 isabel_janci@homedepot.com *News Media* Sara Gorman Senior Director of External Affairs 770-384-2852 sara_gorman@homedepot.com

#### Additional Information and Where to Find It

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities of GMS Inc. ("GMS"). The Home Depot, Inc. ("The Home Depot") and its indirect, wholly owned subsidiary, Gold Acquisition Sub, Inc., have filed a tender offer statement on Schedule TO with the U.S. Securities and Exchange Commission (the "SEC"), containing an Offer to Purchase all of the outstanding shares of common stock of GMS, related Letter of Transmittal and other related documents, and GMS has filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. HOLDERS OF SHARES OF GMS ARE URGED TO CAREFULLY READ THE RELEVANT TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF GMS SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SECURITIES. The Offer to Purchase, the related Letter of Transmittal and other tender offer documents, as well as the Solicitation/Recommendation Statement, are available to all holders of GMS stock at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement are available for free at the SEC's website at www.sec.gov. Additional copies may be obtained for free by contacting The Home Depot or GMS. Copies of the documents filed with the SEC by GMS are available free of charge on GMS's internet website at https://investor.gms.com. Copies of the documents filed with the SEC by The Home Depot are available free of charge on The Home Depot's internet website at https://ir.homedepot.com/ or by contacting The Home Depot's Investor Relations Department at (770) 384-2871.

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In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, The Home Depot and GMS each file annual, quarterly and current reports and other information with the SEC. The Home Depot and GMS's filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at http://www.sec.gov.

#### Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" as defined in the federal securities laws. Forward-looking statements are based on currently available information and current assumptions, expectations and projections of The Home Depot (collectively with its subsidiaries unless the context otherwise indicates, the "Company") about future events, and may use words such as "may," "will," "could," "should," "would," "anticipate," "intend," "estimate," "project," "plan," "believe," "expect," "target," "prospects," "potential," "commit," and "forecast" or words of similar import or meaning or refer to future time periods. Forward-looking statements may relate to, among other things, the proposed acquisition of GMS (the "potential acquisition"); the potential benefits of the potential acquisition, including with respect to future financial performance; the anticipated timing of closing of the potential acquisition (including to obtain necessary regulatory approvals); and the anticipated funding for the potential acquisition. Forward-looking statements are subject to substantial risks and uncertainties, including, but not limited to, the following: the possibility that the potential acquisition does not close on the anticipated timeframe or at all (including failure to obtain necessary regulatory approvals and uncertainties as to how many of GMS's stockholders will tender their shares in the tender offer); risks related to the ability to realize the anticipated benefits of the potential acquisition, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the potential acquisition making it more difficult to maintain business and operational relationships; negative effects of announcing the potential acquisition or the consummation of the potential acquisition on the market price of the Company's or GMS's common stock, credit ratings or operating results or on relationships with customers, suppliers and other counterparties; significant costs associated with the potential acquisition; unknown liabilities; the risk of litigation and/or regulatory actions related to the potential acquisition; the demand for the Company's or GMS's products and services, including as a result of macroeconomic conditions and changing customer preferences and expectations; the effects of competition; the Company's brand and reputation; implementation of interconnected retail, store, supply chain, technology innovation and other strategic initiatives, including with respect to real estate; inventory and in-stock positions; the state of the economy; the state of the housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans, and consumer and trade credit; the impact of tariffs, trade policy changes or restrictions, or international trade disputes and efforts and ability to continue to diversify the Company's supply chain; issues related to the payment methods the Company accepts; demand for credit offerings including trade credit; management of relationships with the Company's associates, jobseekers, suppliers and service providers; cost and availability of labor; costs of fuel and other energy sources; events that could disrupt the Company's business, supply chain, technology infrastructure, or demand for the Company's products and services, such as tariffs, trade policy changes or restrictions or international trade disputes, natural disasters, climate change, public health issues, cybersecurity events, labor disputes, geopolitical conflicts, military conflicts, or acts of war; the Company's ability to maintain a safe and secure store environment; the Company's ability to address expectations regarding sustainability and human capital management matters and meet related goals; continuation or suspension of share repurchases; future dividends; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; changes in interest rates; changes in foreign currency exchange rates; commodity or other price inflation and deflation; the Company's ability to issue debt on terms and at rates acceptable to the Company; the impact and expected outcome of investigations, inquiries, claims, and litigation, including compliance with related settlements; the challenges of operating in international markets; the adequacy of insurance coverage; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of legal and regulatory changes, including executive orders and other administrative or legislative actions, such as changes to tax laws and regulations; store openings and closures; and the impact of other acquired companies on the Company's organization and the ability to recognize the anticipated benefits of any other completed or pending acquisitions.

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These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond the Company's control, dependent on the actions of third parties, or currently unknown to the Company – as well as potentially inaccurate assumptions that could cause actual results to differ materially from the Company's historical experience and its expectations and projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. "Risk Factors," and elsewhere in the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2025 and also as described from time to time in reports subsequently filed by the Company with the SEC. There also may be other factors that the Company cannot anticipate or that are not described herein, generally because the Company does not currently perceive them to be material. Such factors could cause results to differ materially from the Company's expectations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission and in its other public statements.

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