WEBR - Grill maker Weber to take $60M loan from potential acquirer BDT - report

Barbeque maker Weber Inc. ( NYSE: WEBR ) is said have accepted a $60 million loan from its largest investor, the same entity who offered to buy the company last month. Weber shares slid 7.4%.

A special committee of Weber's ( WEBR ) board is said to have agreed to the financing, which is not contingent on the proposed purchase by BDT Capital Partners, according to traders, who cited a Bloomberg report.

The report comes after BDT Capital, which has an 86% stake in Weber ( WEBR ) and voting power of about 62%, offered to buy the remainder of the company it didn't already own for $6.25/share last month.

Weber shares have traded above the deal price since the offer was made late last month on some expectations that BDT might have to raise its offer or a rival bid could step in to make an offer. Weber ( WEBR ) s hort interest of 43% might also be a contributing factor.

BDT Capital, a Chicago-based investment company and merchant bank run by famed investment banker Byron Trott, has been a controlling shareholder in partnership with the Stephen family and Weber ( WEBR ) management since its investment in December 2010.

For further details see: