OREANDA-NEWS. Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Blyth, Inc. (NYSE: BTH) today announced the successful completion of Carlyle's tender offer to purchase all outstanding shares of common stock of Blyth for $6.00 per share in cash. The tender offer expired at 11:59 pm (New York City time) on October 13, 2015. Carlyle previously announced its intent to acquire Blyth's outstanding shares of common stock on August 31, 2015 with capital from the Carlyle U.S. Equity Opportunity Fund, a U.S. middle-market buyout fund.

Carlyle plans to complete the acquisition of the remaining eligible Blyth shares not acquired in the tender offer through a merger pursuant to Section 251(h) of the General Corporation Law of the State of Delaware today, October 14, 2015. As a result of the merger, Blyth shares will no longer be traded on the NYSE, and today Blyth will become a wholly-owned portfolio company of the Carlyle U.S. Equity Opportunity Fund.

As of the expiration of the tender offer, approximately 11,749,938 shares were validly tendered and not withdrawn in the tender offer, representing 72.8 percent of Blyth's outstanding shares, according to the depositary for the tender offer. Notices of Guaranteed Delivery were delivered with respect to 443,997 additional shares, representing approximately 2.8 percent of Blyth's shares, according to the depositary. Carlyle has accepted for payment and will promptly pay for all validly tendered (and not withdrawn) shares of Blyth.

All eligible Blyth shares that were not validly tendered will be converted at the effective time of the merger into the right to receive $6.00 per share in cash, without interest and less any applicable withholding taxes - the same price paid in the tender offer.

Harry Slatkin, founder of Slatkin & Co., will be appointed Chief Executive Officer of Blyth today in connection with the merger, succeeding Robert B. Goergen, Jr. who had served as Blyth's CEO since late 2013. Dan Chard will also be appointed President and Chief Operating Officer, today in connection with the megrer. Chard will join the company from Nu Skin Enterprises, Inc., a direct seller company that distributes personal care and nutritional products.

Threadstone Advisors, White & Case and PricewaterhouseCoopers acted as advisors to Carlyle.  Houlihan Lokey and Wachtell, Lipton, Rosen & Katz acted as advisors to Blyth.