Furniture Brands Says No To Buyout Offer

Posted by MCC on February 26th, 2008 at 08:25pm

A private offer to buy Furniture Brands has been turned down.

Recently, Sun Capital Partners, a Florida based company, made a private offer to Furniture Brands executives to buy out the company earlier this month.

Details of the rejected offer are not available, however, it has been reported that Sun Capital Partners offered to pay a premium well above the current stock price.

Sun Capital Partners currently controls more than nine percent of Furniture Brands shares making it the 3rd largest shareholder.

Under Furniture News