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Harbinger Group offers to acquire Central Garden & Pet Company

Tue, 24/06/2014 - 11:24

Harbinger Group, the publicly traded holding company run by hedge fund manager Philip A Falcone, is offering to acquire, directly or through one of its affiliates, all of Central Garden & Pet Company for USD10.00 in cash per share.

The offer which Harbinger Group (HRG) made in a letter to the board of the Central Garden & Pet Company represents a 27.5 per cent premium over the company’s unaffected common stock price of USD7.84 at the close of business on 6 June.
 
HRG has also indicated that it may be able to further increase the value of its current proposals if the Central Garden & Pet Company board engages in a constructive dialogue and grants access to customary diligence materials.


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