- Popular grill maker Weber Inc. ( NYSE: WEBR ) fell 2% in after hours trading on a report that the company is considering debt financing from one of its largest shareholders.
- Weber ( WEBR ) is said to be evaluating debt financing from BDT Capital Partners, according to traders, who cited a Bloomberg report. The barbeque maker formed a special committee and is working with adviser Centerview on a possible deal.
- The Bloomberg report comes after Weber ( WEBR ) shares spiked 19% earlier after Street Insider reported that the company received a takeover approach from a private equity firm.
- The financing is expected to help the company through the seasonally slow winter season, according to the Bloomberg report.
- Weber ( WEBR ) shares have plunged ~46% since the grill maker went public last August. Weber in July announced the departure of its CEO and the installation of Chief Technology Officer Alan Matula as interim CEO. The company also withdrew its full year sales and earnings guidance after reporting slowing preliminary sales.
- Weber ( WEBR ) short interest is 49%.
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Grill maker Weber drops after report of potential debt financing deal