Business

Shares of Bed Bath & Beyond jump after reports the company has received bids to buy a Buybuy baby block

View of the atmosphere during the Whitney Port & Bundle Organics product launch #MomAsYouAre buybuyBABY on November 17, 2018 in Torrance, California.

Randy Shropshire | Getty Images

Shares of Bed Bath & Beyond rose on news that the company was considering offers to buy its BuyBuy Baby business.

This was reported Wall Street Magazinewho cited unnamed sources. According to the report, private equity firms Cerberus Capital Management and Tailwind Acquisition are among the companies interested in retailing children’s clothing and supplies.

The home goods retailer recently struck a deal with activist investor Ryan Cohen, chairman of GameStop and co-founder of Chewy, who owns a stake in the company through his firm RC Ventures. As part of the deal, Bed Bath agreed to conduct a strategic review of BuyBuy Baby, one of the highlights of the company’s business. He also agreed to add three new directors to his board as part of the truce.

Bed Bath & Beyond did not immediately respond to requests for comment.

This is the latest news. Please stay tuned for updates.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button