Bed Bath & Beyond's Assets Go To Overstock.com In Winning Auction Bid: CNBC
Portfolio Pulse from Benzinga Newsbot
Overstock.com has won an auction for the intellectual property and digital assets of bankrupt home goods retailer Bed Bath & Beyond for $21.5 million. The deal does not include keeping Bed Bath's stores open. Bed Bath is running a separate sale process for its Buy Buy Baby chain.
June 22, 2023 | 10:39 am
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Bed Bath & Beyond sells its intellectual property and digital assets to Overstock.com for $21.5 million, while running a separate sale process for its Buy Buy Baby chain.
The sale of Bed Bath & Beyond's intellectual property and digital assets to Overstock.com provides the bankrupt company with some cash, but it is unclear how this will impact the stock price in the short term. The separate sale process for the Buy Buy Baby chain may have a more significant impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Overstock.com acquires Bed Bath & Beyond's intellectual property and digital assets for $21.5 million, potentially boosting its e-commerce presence.
Overstock.com's acquisition of Bed Bath & Beyond's intellectual property and digital assets could strengthen its e-commerce presence and expand its product offerings. This may lead to increased revenue and market share, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100