Bed Bath & Beyond up after disclosing F9 Brands takeover plan

Shares of Bed Bath & Beyond BBBY.N up around 10% at $4.78 premarket

E-commerce company says it has signed a letter of intent to buy equity interests and substantially all assets of F9 Brands, including Lumber Liquidators and Cabinets To Go

Deal values at nearly $150 million, including $37 million in cash and about 16 million BBBY shares at $7 apiece

Transaction is expected to close after annual shareholder meet in May

BBBY says seller and its management team will get a one-time $25 million payout if F9 Brands makes $20 million annual profit in any one of the next five years

Co appoints executive chief of F9 Brands Jason Delves as CEO of Beyond Home Services, he will be joining the executive leadership team of BBBY

Up to last close, stock fell nearly 21% YTD