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.