Bed Bath & Beyond’s child merchandise chain attracts purchaser curiosity

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

(Reuters) -Bed Bath & Beyond Inc is fielding curiosity from potential consumers for its Buybuy Baby enterprise following activist stress to promote the unit, the Wall Street Journal reported on Friday, citing folks conversant in the matter.

The suitors embrace non-public fairness agency Cerberus Capital Management LP and Tailwind Acquisition Corp, a blank-check agency chaired by Casper Sleep (NYSE:) Inc’s former chief govt Philip Krim, the report stated.

Bed Bath & Beyond (NASDAQ:), Cerberus Capital and Tailwind Acquisition didn’t instantly reply to Reuters requests for remark.

Shares of the corporate gained as a lot as 11% on the information earlier than closing up 7% at $17.46.

The dwelling items retailer has been beneath stress from activist investor and GameStop (NYSE:) Chairman Ryan Cohen to discover strategic options.

As a part of a settlement with Cohen in March, Bed Bath & Beyond appointed three new administrators to its board, two of them to the committee exploring choices for the child merchandise chain.

Source hyperlink

Leave a Reply

Your email address will not be published.