Morgan Stanley has emerged as adviser to Home Depot, the home improvement retailer which yesterday bid $3.5bn (€2.9bn) for construction products distributor Hughes Supply.

Last July Home Depot used Merrill Lynch for the $1.3bn purchase of National Waterworks, a distributor of products for wastewater transmission systems.

Shanny Basar in New York

Home Depot

Morgan Stanley

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Morgan Stanley moves in on Home Depot

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