Oct 29 (Reuters) - Direct-selling company CVSL Inc has offered to buy Blyth Inc for about $268 million,Bloomberg reported citing two people with knowledge of thematter.
CVSL offered to pay $16.75 a share for Blyth, which sellscandles, fragrances and ViSalus weight-loss products, Bloombergreported. ()
The offer, which was extended last week in a letter toBlyth, could be made public by CVSL as soon as Tuesday, thereport said.
Blyth, based in Greenwich, Connecticut, reported revenue of$211.7 million for the second quarter, down 32 percent from ayear earlier, due to slumping sales of ViSalus, and the companycut its full-year earnings outlook in August.
Reuters could not reach both CVSL and Blyth for commentoutside U.S. business hours.
- Blyth Inc