Major Home Improvement Chain to Purchase Company in $8.8B Deal

Major home improvement chain to purchase company in $8.8B deal

Lowe’s is buying a building material distributor in an $8.8 billion deal.

Marvin Ellison leads Lowe’s $8.8 billion FBM deal

Lowe’s Companies Inc., the U.S. home improvement retailer led by one of the world’s highest-ranking Black CEOs, Marvin Ellison, is set to acquire Foundation Building Materials (FBM) in an $8.8 billion all-cash deal. The move reflects Ellison’s push to strengthen Lowe’s footprint and deliver stronger earnings.The deal is expected to give Lowe’s a stronger position in the $250 billion professional construction and remodeling market, where demand f…