Plano-based At Home is going private, five years after its initial public offering of stock and after more than a year of gaining new market share from households nesting during the pandemic.
Private equity firm Hellman & Friedman said in a filing Wednesday morning that 57% of At Home shares were tendered for $37 a share as of the deadline Tuesday night. It’s extending the deadline to 5 p.m. Thursday in order to complete the offer.
The value of the deal is $2.8 billion and includes the assumption of about $300 million in debt. Hellman & Friedman first made an offer to buy the company in May and the At Home board had approved it. But the transaction turned into a tender offer after a major shareholder opposed the sale.
At Home’s second quarter ends this month, but the company hasn’t disclosed preliminary results. The chain’s total sales increased 27.3% last year to $1.74 billion, and same-stores sales were up 19.4%. Strong results continued in the first quarter, when sales more than doubled to $537.1 million from $189.8 million in the prior year.
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July 21, 2021 at 09:00PM
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Home decor superstore At Home is sold to private equity - The Dallas Morning News
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