Daily News

From Home Furnishing Business

Samson to Bid on FBI

November 5, 2013  by in Financial Reports, Industry   

Samson, the Taiwan-based owner of Universal Furniture and Legacy Classic Furniture, told the Security and Exchange Commission it intends to submit a qualified bid for the acquisition of Furniture Brands "with terms that are the same or better" than those of KPS Capital Partners of New York, the current top bidder.

According to the SEC filing, Samson intends to submit a bid for Furniture Brands on or before Dec. 5. Samson controls 764,269 shares of Furniture Brands, representing around 9.5 percent of the outstanding shares.

In July, Samson had sold 267,355 shares in Furniture Brands, which reduced its chunk of the business from 13 percent to its current level.