Overstock Shares Soar 20% Following Acquisition Of Bed Bath & Beyond Assets: What You Need To Know
Portfolio Pulse from Aaron Bry
Overstock.com has won an auction to acquire some of Bed Bath & Beyond's assets for over $20 million, causing Overstock's shares to soar by 20%. The deal includes Bed Bath & Beyond's intellectual property and digital assets, but will not keep its stores open.
June 22, 2023 | 7:33 pm
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Overstock.com's shares soared 20% after winning an auction to acquire some of Bed Bath & Beyond's assets for over $20 million.
Overstock.com's acquisition of Bed Bath & Beyond's assets has led to a significant increase in its share price. The deal includes intellectual property and digital assets, which could potentially boost Overstock's e-commerce business and revive some of Bed Bath & Beyond's brands.
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