Bed Bath & Beyond's Buybuy Baby Unit Receives Takeover Interest: WSJ

(RTTNews) - Shares of Bed Bath & Beyond (BBBY) gained over 6% in regular trading on Friday after The Wall Street Journal reported that more than one party is interested in purchasing the retailer's Buybuy Baby unit.

According to the report, suitors for the baby-gear chain include private-equity firm Cerberus Capital Management LP and Tailwind Acquisition Corp., a special-purpose acquisition company chaired by former Casper Sleep Inc. Chief Executive Philip Krim.

The home goods retailer recently reached a deal with activist investor Ryan Cohen, chairman of GameStop and co-founder of Chewy, who owns a stake in the company through his firm RC Ventures, to do a strategic review of BuyBuy Baby.

BBBY closed Friday's trading at $17.46, up $1.12 or 6.85%, on the Nasdaq.