Aerogrow, Scotts move forward with acquisition process

BOULDER — Scotts Miracle-Gro Co. (NYSE: SMG) and AeroGrow International Inc. (OTCQB: AERO) recently agreed to move forward with a plan that would result in Scotts acquiring all outstanding shares of the Boulder-based indoor plant grow system manufacturer, according to an executed letter of intent disclosed to the U.S. Securities and Exchange Commission last week.

If the deal closes, AeroGrow will become a wholly owned subsidiary of Scotts. 

Scotts, which already owns about 80.5% of AeroGrow’s 34,328,036 outstanding shares of common stock, has offered $3 per share for the remaining shares.

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