H&F meets ‘minimum condition’ for At Home stock offering


PLANO, Texas — Hellman & Friedman, a global private equity firm, and At Home Group Inc. announced satisfaction of the “minimum condition” of H&F’s previous offer to acquire all of the issued and outstanding shares of the shares ordinary At Home.

They also announced an extension of the tender offer until 5 p.m. EST on July 22, unless further extended. H&F extends the expiration of the tender offer in order to coordinate the closing of the tender offer and the merger. They expect the offer to close soon after the extended expiration date and the merger to close soon after the tender offer closes.

American Stock Transfer & Trust Company LLC, the tender offer depositary, has advised H&F that 37,388,949 shares of At Home common stock, representing approximately 57% of the issued and outstanding shares of At Home, have been made to the takeover bid. Upon completion of the transaction, At Home will become a private company and At Home shares will no longer trade on the New York Stock Exchange.

It comes after the largest shareholder of At Home Group shares, CAS Investment Partners, announced last month that it opposes a proposed deal to take the retailer private, as it believes the deal “underperforms”. highly rates” the company. CAS Investment Partners owns approximately 17% of the company’s shares and urged the board to seek amended terms that “accurately reflect the company’s promise and its value creation potential”.

At Home offers up to 50,000 home products ranging from furniture, mirrors, rugs, art and housewares to table tops, patio and seasonal decor. The company currently operates 226 stores in 40 states.

Since its creation in 1984, H&F has invested in more than 100 companies. The company has over $60 billion in assets under management.


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