Blyth Rejects CVSL's $16.75 Per Share Buyout Offer - Quick Facts

(RTTNews) - Blyth Inc. (BTH) announced Friday that its board has unanimously rejected the unsolicited conditional $16.75 per share proposal from CVSL Inc. (CVSL.PK) to acquire Blyth.

According to Blyth, the offer was not supported by any committed debt or equity financing. The offer potentially required Blyth public shareholders to take as consideration a debt instrument for a portion of the purchase price. The offer required the management of Blyth, as well as significant shareholders of Blyth, to take as consideration stock (in CVSL or a subsidiary) for all or a portion of the purchase price for their shares of Blyth.

In October, CVSL had said it offered to buy personal products company Blyth for about $269 million in cash. CVSL proposed to buy all common shares of Blyth for $16.75 per share, representing a 35 percent premium over the 90-day average price for the period ending October 24, 2013.