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2021-06-18

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At Home Group accepts Hellman & Friedman's raised offer

June 16 (Reuters) - At Home Group Inc accepted a raised cash offer of $37 per share from private-equ

At Home Group accepts Hellman & Friedman's raised offer

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The initial offer of $36 per share represented a premium of about 17%.</p>\n<p>Honest Capital said in May, in a letter to At Home, the initial offer from Hellman &amp; Friedman was too low a valuation, given the company's plans to more than double the number of its stores to 600.</p>\n<p>At Home's largest shareholder CAS Investment Partners had also said, according to a letter obtained by Reuters, it would vote against the deal, saying the first offer grossly undervalued the home decor chain.</p>\n<p>\"This price increase represents our best and final offer,\" Hellman &amp; Friedman Partner Erik Ragatz said in a statement on Wednesday.</p>\n<p>H&amp;F will commence a tender offer around June 23 to acquire all outstanding shares of At Home's common stock, At Home Group said.</p>\n<p>Honest Capital could not be immediately reached for a comment, and CAS did not immediately respond.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>At Home Group accepts Hellman & Friedman's raised offer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAt Home Group accepts Hellman & Friedman's raised offer\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-16 22:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 16 (Reuters) - At Home Group Inc accepted a raised cash offer of $37 per share from private-equity firm Hellman &amp; Friedman for the home decor chain, months after an earlier bid from the private-equity firm faced opposition from hedge fund Honest Capital.</p>\n<p>Plano, Texas-based At Home Group said the new offer represented a premium of about 21% to the closing stock price on May 4, a day before reports of a potential deal surfaced. The initial offer of $36 per share represented a premium of about 17%.</p>\n<p>Honest Capital said in May, in a letter to At Home, the initial offer from Hellman &amp; Friedman was too low a valuation, given the company's plans to more than double the number of its stores to 600.</p>\n<p>At Home's largest shareholder CAS Investment Partners had also said, according to a letter obtained by Reuters, it would vote against the deal, saying the first offer grossly undervalued the home decor chain.</p>\n<p>\"This price increase represents our best and final offer,\" Hellman &amp; Friedman Partner Erik Ragatz said in a statement on Wednesday.</p>\n<p>H&amp;F will commence a tender offer around June 23 to acquire all outstanding shares of At Home's common stock, At Home Group said.</p>\n<p>Honest Capital could not be immediately reached for a comment, and CAS did not immediately respond.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOME":"At Home Group Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143926717","content_text":"June 16 (Reuters) - At Home Group Inc accepted a raised cash offer of $37 per share from private-equity firm Hellman & Friedman for the home decor chain, months after an earlier bid from the private-equity firm faced opposition from hedge fund Honest Capital.\nPlano, Texas-based At Home Group said the new offer represented a premium of about 21% to the closing stock price on May 4, a day before reports of a potential deal surfaced. The initial offer of $36 per share represented a premium of about 17%.\nHonest Capital said in May, in a letter to At Home, the initial offer from Hellman & Friedman was too low a valuation, given the company's plans to more than double the number of its stores to 600.\nAt Home's largest shareholder CAS Investment Partners had also said, according to a letter obtained by Reuters, it would vote against the deal, saying the first offer grossly undervalued the home decor chain.\n\"This price increase represents our best and final offer,\" Hellman & Friedman Partner Erik Ragatz said in a statement on Wednesday.\nH&F will commence a tender offer around June 23 to acquire all outstanding shares of At Home's common stock, At Home Group said.\nHonest Capital could not be immediately reached for a comment, and CAS did not immediately respond.","news_type":1},"isVote":1,"tweetType":1,"viewCount":199,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}