Kirkland-based Celebrate Express, an online and catalog retailer of party supplies, has been approached by suitors interested in a merger...
Kirkland-based Celebrate Express, an online and catalog retailer of party supplies, has been approached by suitors interested in a merger or acquisition, the company disclosed today in a regulatory filing.
Celebrate Express had expected to announce its fiscal third-quarter financial results this afternoon but postponed the release in light of the possible sale. The company said it has hired Cowen & Co. as its financial adviser during discussions. It declined to name the suitors.
Last year, Celebrate Express said in an annual report distributed to shareholders that it decided against selling the company after an eight-month review. CEO Kevin Green wrote that the company’s management and board believed that turning the business around and generating consistent cash flow were the best way to increase shareholder value.
Shares of Celebrate Express closed up 43 cents, or 8.4 percent, at $5.56 today.
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