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

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

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)

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