Bed Bath & Beyond stock jumps on report company received a bid for Buybuy Baby unit
[ad_1]
A view of the atmosphere during the Whitney Port & Bundle Organics #MomAsYouAre buybuyBABY product launch on November 17, 2018 in Torrance, California.
Getty Images| Getty Images
Bed Bath & BeyondThe news that BuyBuy Baby was being offered for purchase by the company has caused shares to jump.
This news was published by The Wall Street JournalIt cited unnamed sources. The report states that Tailwind Acquisition and Cerberus Capital Management, a private equity firm, are interested in buying the retailer of baby clothing and accessories.
Recently, the home goods retailer struck a deal with activist investorRyan Cohen, Chairman of GameStopas co-founder ChewyRC Ventures owns a share of the company. Bed Bath was required to review BuyBuy Baby’s strategic plan as part of this deal. This is one of the most profitable areas of the business. As part of the deal, it also committed to adding three directors to its board.
Bed Bath & Beyond did not immediately respond to requests for comment.
This is the latest news. Stay tuned for new updates.
[ad_2]