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The grill maker's former owner intends to take it private again.
Yahoo Finance Live anchors Julie Hyman, Brad Smith and Brian Sozzi discuss the rise in stock for Weber on news that BDT Capital will take the grill maker private for $2.3 billion.
One-time meme stock Weber (NYSE: WEBR ) is trending on social media and soaring 23% to $8.02 after the barbecue grill maker agreed to be acquired by investment bank BDT Capital Partners. Under the deal, Weber will become a privately traded company.
The grill maker announces it will be taken private in a deal expected to close in the first half of next year.
Weber Inc. WEBR, -0.31% announced Monday morning that it has reached an agreement with BDT Capital Partners to be taken private. Funds managed by BDT Capital will purchase all of the Weber shares they don't already own for $8.05 a share in a deal that assigns the maker of barbecue grills a $3.7 billion enterprise value.
PALATINE, Ill.--( BUSINESS WIRE )--Weber Inc. (“Weber”) (NYSE: WEBR), the global leader in outdoor cooking innovation, technology, and products, today announced that it plans to release its fiscal fourth quarter and full-year 2022 financial results on Wednesday, December 14, 2022. Weber management will host a conference call at 7:30 a.m. CT that morning to discuss its financial results.
Grill maker Weber is targeted by its controlling shareholder BDT Capital (89% stake). BDT has recently issued a non-binding takeover bid at $6.25/share. WEBR has since traded above the offer price, reflecting market's expectations of a higher bid.
Yahoo Finance anchor Seana Smith breaks down shares of Weber surging on news of a BDT Capital takeover bid.
After the closing bell on Monday, Weber Inc.'s largest shareholder, BDT Capital Partners, made an offer to buy the outdoor grill maker's remaining shares for $6.25 apiece.
Weber Inc (NYSE:WEBR) is surging today, last seen up 30.4% to trade at $6.57, after BDT Capital Partners offered to buy the grill company for $6.25 per share, or about $1.8 billion, which is a 24.3% premium to yesterday's close.