Water Pik to Be Bought by Carlyle and Partner
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Water Pik Technologies Inc. of Newport Beach said it agreed to be acquired for $380 million by a Carlyle Group-led partnership.
Coast Acquisition Corp., 80% owned by Carlyle Group and 20% by Zodiac of France, will pay $27.75 a share for the company, Water Pik said. That represents a 28% premium over the stock’s closing price Friday of $21.62.
Water Pik, a maker of electric toothbrushes and water filters, had confirmed this week that it was exploring a possible sale.
The purchase is expected to close in April.
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