Direct seller CVSL offers to buy Blyth for $268 mln - Report
29/10/2013 05:51
Oct 29 (Reuters) - Direct-selling company CVSL Inc CVSL.PK has offered to buy Blyth Inc BTH.N for about $268 million, Bloomberg reported citing two people with knowledge of the matter. CVSL offered to pay $16.75 a share for Blyth, which sells candles, fragrances and ViSalus weight-loss products, Bloomberg reported. (http://link.reuters.com/cyd34v) The offer, which was extended last week in a letter to Blyth, could be made public by CVSL as soon as Tuesday, the report said. Blyth, based in Greenwich, Connecticut, reported revenue of $211.7 million for the second quarter, down 32 percent from a year earlier, due to slumping sales of ViSalus, and the company cut its full-year earnings outlook in August. ID:nASB084WN Reuters could not reach both CVSL and Blyth for comment outside U.S. business hours. (Reporting by Varun Aggarwal in Bangalore; Editing by Gopakumar Warrier) ((varun.aggarwal@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S +91 80 6749 6234; Reuters Messaging: varun.aggarwal.thomsonreuters.com@reuters.net)) Keywords: BLYTH OFFER/CVSL