June 23, 2014 / 12:25 AM / 3 years ago

Central Garden & Pet Co may see $10 per share offer - FT

1 Min Read

June 22 (Reuters) - Central Garden & Pet Co, a pet and lawn supply company, could see an unsolicited $10 per share offer from hedge fund Harbinger Capital Partners, according to a news report.

The Financial Times reported on Sunday that, according to people familiar with the matter, Harbinger has been unsuccessfully negotiating a deal for months with the Walnut Creek, California-based company.

Harbinger could also change course and choose to buy only the pet division for about $750 million, according to the report.

On Friday, Central Garden & Pet Co's shares closed at $9 per share, giving the company a market capitalization of $454 million. The company has long-term debt of $545 million, according to a recent filing with the U.S. Securities and Exchange Commission.

Representatives from Harbinger and Central Garden & Pet Co did not immediately return calls for comment on Sunday evening. (Reporting By Mike Stone; Editing by Andrea Ricci)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below