Timex sells majority stake to Boston-based investment firm Baupost; know takeaway for shareholders
Timex Group has entered into an agreement with a Boston-based investment manager Baupost Group LLC for the acquisition of a majority ownership, the Group has said in a media release. The transaction is expected to close before year-end, subject to regulatory reviews, the release further said
Under the arrangement, Timex Group’s existing shareholders will retain a significant ongoing interest in the business, the release said. Source: Timex Website