ANALYST: LNT PROMOTES HEAVILY TO MEET ACQUISITION NEEDS.(Linens 'n Things Inc.)
HFN: The Weekly Newspaper for the Home Furnishing Network, January, 2006
Byline: Michael Rudnick
NEW YORK-Linens 'n Things recently stated that it expects to meet the financial conditions required for it to be acquired by Apollo Management for $1.3 billion.
The home furnishings specialty retailer must have recorded comparable net sales for the fourth quarter of at least negative 6 percent and its earnings before interest, taxes, depreciation and amortization must be at least $140 million for the fiscal year ending Dec. 31. In a filing to the Securities and Exchange Commission last, Linens 'n Things stated that based on improving sales it expects to meet the comparable sales condition and "that it will satisfy the minimum EBITDA condition to the debt financing".
Donald Trott, equity analyst with Jefferies & Co.,...
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