Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Blyth, Inc. (“Blyth” or the “Company”) (BTH) for potential breaches of fiduciary duties in connection with the sale of the Company to The Carlyle Group LP for approximately $98 million in a cash transaction.
The Company’s stockholders will only receive $6.00 for each share of Company common stock they own. However, the offer represents an inadequate premium since it is lower than both the 52-week high of $10.27 per share and considerably lower than at least one Wall Street analyst price target of $40.00 per share
The investigation focuses on whether Blyth’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether
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CVSL Signs Agreement To Acquire Kleeneze
by Tina Williams • • 0 Comments
CVSL Inc. announced today that it has signed an agreement to acquire Kleeneze, a United Kingdom-based direct-to-consumer company. The consummation of the acquisition is subject to certain conditions, including approval by the New York Stock Exchange MKT.
Kleeneze is one of the U.K.’s longest-operating, largest and best-known direct-to-consumer businesses. Founded in 1923, the company has grown into a community of more than 7,000 independent distributorships, offering a wide variety of several thousand cleaning, health, beauty, home, outdoor and other products to customers across the U.K. and Ireland. Kleeneze is a founding member of the U.K. Direct Selling Association.
Under the terms of the agreement, CVSL will purchase 100% of the shares of Kleeneze from Findel PLC. Both the CVSL and Findel boards have approved the terms. It is anticipated that closing will take place by the end of the First Quarter.
“Kleeneze has an extensive product line, a nearly century-long heritage, a well-known brand and a robust presence throughout the U.K. We believe Kleeneze will be an outstanding addition to our CVSL family of companies,” said John Rochon Jr., CVSL’s vice chairman and head of its investment committee. “Kleeneze gives CVSL a very significant presence in the U.K. and represents an important step forward in CVSL’s international
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Amway Buys California Energy Drink Company
by Tina Williams • • 0 Comments
Amway has acquired XS Energy, a California-based brand of energy drinks and snacks that has been successfully marketed through parties around the U.S. and Asia.
Neither the price or terms of the agreement were disclosed by the Ada-based direct-selling giant in announcing the deal on Wednesday, Jan. 14.
The acquisition of the brand is being described as a strategic move for Amway to leverage XS’ approach of connecting with young entrepreneurs.
Amway, which reported sales of $11.8 billion in 2013, makes Nutrilite vitamin supplements, Artistry cosmetics and eSpring water treatment systems that are sold through 3 million distributors around the world.
The XS Energy brand has been sold as an Amway product since 2003. It’s now distributed in 38 countries, generating annual sales of $150 million. Available in a range of flavors, XS Energy is described by its makers as a sugar-free energy drink loaded with B-vitamins.
The brand’s YouTube videos shows co-founder David Vanderveen and others on stages at rave-inspired gatherings smirking for a camera and crowdsurfing like rock stars.
The parties are “lifestyle branding” which show that work and play can blend together.
Vanderveen will join Amway as vice president and general manager for the XS brand to provide his expertise about connecting with the under-35 crowd.
Before
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Herbalife Executives Buy $1.7 Million In Shares
by Tina Williams • • 0 Comments
Insiders at Herbalife threw their hats into the ring of the media circus surrounding the multi-level marketing firm.
Three Herbalife top executives bought 30,700 shares for $1,709,467, an average of $55.68 each, on July 31.
Chief Financial Officer John DeSimone bought 10,000 Herbalife (ticker: HLF ) shares for $555,600. He now holds a direct stake of 28,690 shares. DeSimone’s most recent previous transaction was on April 16, 2012, when he exercised options and sold 31,700 shares for $2.7 million, an average of $70.50 each, through a 10b5-1 plan.
Chief Operating Officer Richard Goudis bought 10,700 shares for $597,167. He now holds a direct stake of 166,969 shares. Goudis’ most recent previous transaction was on Nov. 29, 2012, when he bought 180,100 shares for $2 million, an average of $43.89 each.
Finally, President Desmond Walsh bought 10,000 shares for $556,700. He now holds a direct stake of 107,599 shares. Walsh’s most recent previous transaction was on April 3, 2012, when he exercised options and sold 125,500 shares for $5 million, an average of $69.44 each through a 10b5-1 plan.
All the executives hold stakes of less than 1% in Herbalife.
Walsh and Goudis joined Herbalife in 2004. DeSimone joined in 2007.
Herbalife did not respond to a phone call seeking