Shareholder Makes Offer for Specialty Catalog Corp.

Share this content:
Specialty Catalog Corp. is considering a proposal by a shareholder to purchase the South Easton, MA, company.


The cataloger's board has formed an independent committee to determine whether to accept the offer by Guy Naggar, a British investor who owns 29 percent of company shares.


Naggar wants to purchase the company's remaining common stock for $3.75 a share. The proposal represents a 43 percent premium to the $2.63 closing share price on April 24, which was the day before Naggar's filing, and a 23 percent premium to Friday's closing price of $3.05.


A condition of the offer is that Specialty Catalog would merge with another company Naggar plans to form. Naggar would not offer details on the company he is planning but said Specialty Catalog's operations would not change.


A decision on whether to accept Naggar's proposal is expected by Friday, said Thomas McCain, the cataloger's senior vice president and chief financial officer.


Specialty Catalog Corp. is a retailer of women's wigs and hairpieces through its Paula Young catalog and Web site. The company also offers wigs for African-American women, hairpieces, apparel and related products through its Especially Yours catalog and Web site.


A subsidiary, Daxbourne International Ltd., is a retailer and wholesaler of women's wigs and hairpieces in the United Kingdom.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences and drive measurable results. PAN services clients out of the firm's four offices: Boston, San Francisco, New York City and Orlando.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above