Oct 29 Direct-selling company CVSL Inc has offered to buy Blyth Inc for about $268 million, Bloomberg reported citing two people with knowledge of the matter.
CVSL offered to pay $16.75 a share for Blyth, which sells candles, fragrances and ViSalus weight-loss products, Bloomberg reported. ()
The offer, which was extended last week in a letter to Blyth, could be made public by CVSL as soon as Tuesday, the report said.
Blyth, based in Greenwich, Connecticut, reported revenue of $211.7 million for the second quarter, down 32 percent from a year earlier, due to slumping sales of ViSalus, and the company cut its full-year earnings outlook in August.
Reuters could not reach both CVSL and Blyth for comment outside U.S. business hours.