- Language: English
- Published: July 2009
- Region: United Kingdom
Bulletin: Bed Bath & Beyond Rating Unaffected By Announced $495M Acquisition Of Cost Plus May 12
- Published: May 2012
- Standard & Poors
NEW YORK (Standard & Poor's) May 9, 2012--Standard & Poor's Ratings Services said today that its rating on Bed Bath & Beyond Inc. (rated 'BBB+' with a stable outlook) is not affected by the company's announcement that it plans to acquire Cost Plus Inc. for approximately $495 million. Bed Bath & Beyond will fund the transaction with cash (about $1.76 billion on its balance sheet as of Feb. 25, 2012). We have previously indicated that Bed Bath & Beyond's rating has debt capacity in excess of $3 billion. Cost Plus' two largest shareholders (about 26% interest) have already committed to tender their shares. The transaction is expected to close by the end of Bed Bath & Beyond's second quarter....
Companies mentioned in this report are: Bed Bath & Beyond Inc.
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Bed Bath & Beyond Inc.