Weber Inc.’s stock climbed more than 24% in after-hours trading Monday, mirroring an offer from its largest shareholder to buy the grill maker’s remaining shares for $6.25 apiece.
“Our Proposal offers immediate liquidity to the Company’s public stockholders, while eliminating the risks to the public stockholders in the current market and operating environment that the Company’s current leverage position is unsustainable and that the Company may be unable to effect a recapitalization,” the offer letter states.
Earlier this month Bloomberg reported that Weber was considering debt financing from BDT Capital Partners, which owns nearly half the company’s shares at 48.16%, according to FactSet. MarketWatch has reached out to Weber for comment.In mid-August, Weber reported a wider-than-expected third-quarter loss. The company also announced a plan to cut costs and preserve liquidity against a backdrop of rising inflation and supply chain disruptions that slowed retail traffic.
Amazing grills. Clean once a year and they last/perform for a long time.
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