Union, N.J. -- Bed Bath & Beyond Inc. announced that its tender offer for the outstanding shares of common stock of Cost Plus was successful.
The company said Friday that about 20.8 million shares representing about 92% of Cost Plus' outstanding stock were tendered. The company currently has approximately 22.5 million outstanding shares, according to FactSet.
Cost Plus will become a Bed Bath & Beyond subsidiary and will stop trading on the Nasdaq the first business day after the deal closes.
Bed Bath & Beyond announced its $495 million acquisition of Cost Plus in May.