Bed Bath & Beyond To Pay $495M For World Market Parent

Law360, New York (May 9, 2012, 12:44 PM EDT) -- Bed Bath & Beyond Inc. will lay down $495 million for Cost Plus Inc., which owns imported household goods brand World Market and has rallied in the past half-year to restore business post-recession, the companies said Wednesday.

The all-cash transaction offers Oakland, Calif.-based Cost Plus investors $22 per share, a 23 percent premium over Tuesday's closing price. Union, N.J.-based Bed Bath & Beyond said it will use on-hand cash to fund the purchase.

Cost Plus' two largest shareholders, Red Mountain Capital Partners LLC and Stephens Investment...
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