Brookstone Agrees to Sale
Merrimack, N.H., Amajority of Brookstone shareholders voted to approve the company's sale to a consortium led by OSIM International Ltd., a Singapore-listed healthy lifestyle products company. Brookstone shareholders will get $20 per share in cash. Based on the company's 20.44 million common shares outstanding, the deal values Brookstone at $408.8 million.
"We believe this merger offers great value to our shareholders and a tremendous opportunity for our company going forward,” said Brookstone’s Michael Anthony, CEO, president and chairman. “OSIM will be a strategic partner with product development capabilities extremely complementary to those of Brookstone's. In addition, we believe that OSIM’s expertise in operating stores in Asia will help Brookstone to expand its retail concept globally.”