Harbinger Group Inc, the holding company for Spectrum Brands, said it had offered to purchase retailer Central Garden & Pet Co for $10 per share, or acquire its pet business for $750 million.The $10 per share offer represents an 11.1 percent premium to Central Garden's Friday closing price.The offer values Central Garden at $504.5 million, based on the company's common, class A and class B shares outstanding as of April 30.Central Garden had long-term debt of $545 million, according to the company's latest regulatory filing.
Central Garden & Pet Company (Central), is a marketer and producer of branded products. Shares of CENT traded higher by 0.45% or $0.04/share to $9.00. In the past year, the shares have traded as low as $6.00 and as high as $9.05. On average, 38703 shares of CENT exchange hands on a given day and today's volume is recorded at 132354.
Harbinger Group Inc. (HGI) is a holding company. The Company's operations are conducted through Spectrum Brands, the Company's subsidiary, which provides branded consumer products, such as batteries, personal care products, small household appliances, pet supplies, and home and garden pest control products, and Fidelity & Guaranty Life Holdings, Inc. Shares of HRG traded higher by 3.27% or $0.41/share to $12.96. In the past year, the shares have traded as low as $7.33 and as high as $13.34. On average, 583739 shares of HRG exchange hands on a given day and today's volume is recorded at 6920789.
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