Bally Total Fitness (BFT) Higher Following Confidentiality Agreement With Another Large Holder
In an amended 13D filing this morning on Bally Total Fitness Holding Corp. (NYSE: BFT), 11% holder Liberation Investments confirmed that they entered a confidentiality agreement with the company making available certain information relating to the Company’s business, products, markets, condition, operations, assets, liabilities, results of operations, cash flows and prospects.
Liberation said following the review of the material they, "may determine to attempt to arrange or participate with third parties in an extraordinary corporate transaction with respect to the Company, such as an acquisition, a sale of all or substantially all of the Company’s assets, a reorganization, a recapitalization, or a significant debt or equity investment."
Last Friday, Bally entered into a similar agreement with its largest holder Pardus Capital (14.8%).
Shares of Bally Total Fitness are up 10.5% to $2.95 in early action Tuesday.