A view of the atmosphere at the Whitney Port & Bundle Organics #MomAsYouAre buybuyBABY product launch on November 17, 2018 in Torrance, California.
Randy Shropshire | Getty Images
Shares of Bed Bath & Beyond jumped on news that the company was considering bids to buy its BuyBuy Baby business.
The news was reported by The Wall Street Journal, which cited unnamed sources. According to the report, private equity firm Cerberus Capital Management and Tailwind Acquisition are among the companies interested in the baby apparel and supplies retailer.
The home goods retailer recently struck a deal with activist investor Ryan Cohen, chairman of GameStop and co-founder of Chewy, who has a stake in the company through his company RC Ventures. As part of the deal, Bed Bath has agreed to conduct a strategic review of BuyBuy Baby, one of the strengths of the company’s business. It also agreed to add three new directors to its board as part of the truce.
Bed Bath & Beyond did not immediately respond to requests for comment.
This is breaking news. Please check for updates.
If you have any query regarding content, please comment below. Thanks