The Harbinger Group, a publicly traded holding company, has proposed to buy the Central Garden and Pet Company for roughly $505 million, or $10 per share, The New York Times reported.
Including assumed debt, the deal is worth $1.1 billion, according to the Wall Street Journal. As an alternative option, Harbinger, which is run by hedge fund manager Phillip A. Falcone, said it was also willing to buy Central Garden’s pet business for $750 million in cash.
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