Restoration Hardware Agrees to Lower Price in Merger
San Francisco, Restoration Hardware Inc. changed its merger deal with Catterton Partners, agreeing to a lower per-share price.
The change lowers the overall price Catterton will pay in the deal to $179 million from $267 million.
Restoration Hardware said “increased pressure” in the retail sector led it to agree to the new deal.
Catterton has loaned $25 million to Restoration Hardware for working capital.