Stock Groups

Bed Bath & Beyond’s baby products chain attracts buyer interest

[ad_1]

© Reuters. FILE PHOTO: An exterior view shows a Bed Bath & Beyond store in Novi, Michigan, U.S., January 29, 2021. REUTERS/Emily Elconin

(Reuters) -Bed Bath & Beyond Inc is fielding interest from potential buyers for its Buybuy Baby business following activist pressure to sell the unit, the Wall Street Journal reported on Friday, citing people familiar with the matter.

According to the report, Cerberus Capital Management LP, a private equity firm, and Tailwind Acquisition Corp are potential suitors. Tailwind Acquisition Corp is a blank check firm headed by Philip Krim (NYSE:) Inc), according to the report.

Bed Bath & Beyond (NASDAQ:), Cerberus Capital and Tailwind Acquisition did not immediately respond to Reuters requests for comment.

The news brought 11% of shares to the company’s attention, before the stock closed up 7% at $17.46.

Ryan Cohen, an activist investor who has pressured the retailer of home goods to look into strategic options, said that GameStop (NYSE) chairman.

As part of a settlement with Cohen in March, Bed Bath & Beyond appointed three new directors to its board, two of them to the committee exploring options for the baby products chain.

[ad_2]