Candle Merchant Blyth Rejects CVSL's $269.5M Takeover Bid

Law360, New York (November 15, 2013, 1:53 PM EST) -- Blyth Inc. refused a $269.5 million takeover bid from direct-sales company CVSL Inc., saying in a statement Friday that the unsolicited offer failed to address the financial needs of the candle and home accessory merchant's brands and would leave shareholders strapped with debt.

CVSL, a holding company that acquires direct-sales businesses like Mary Kay Inc., made an offer that would have allowed Blyth shareholders to choose between receiving a $16.75-per-share payout or the equivalent value in CVSL shares, according to an Oct. 29 statement announcing the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.