If you have never seen a billionaire do a micro-cap merger on the cheap, today's your lucky day. Liberty Media Corporation (NASDAQ: LINTA) and Celebrate Express (NASDAQ: BDAY) have entered into a definitive agreement for Liberty to acquire Celebrate Express.
What is interesting is that Celebrate Express is a online and catalog retailer of party supplies and costumes marketed under the brands Birthday Express, 1st Wishes and Costume Express. Celebrate will be attributed to the Liberty Interactive Group and will be combining it with BUYSEASONS, Inc.
Both boards of directors have approved the merger and Liberty will pay $31 million in cash, or $3.90 per Celebrate share. Celebrate Express closed at $2.30 today and its 52-week trading range is $2.19 to $10.70.
If you look at the balance sheet of Celebrate Express, it looks like John Malone is getting to add this company into his costume empire for nearly free.
John Malone gets a new birthday suit almost for free
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