** Shares of specialty retailer Container Store Group
surge 31% to $14.05 premarket
** Company after market close on Tuesday said Bed Bath & Beyond owner Beyond agreed to invest $40 mln through preferred equity transaction
** Deal would result in ownership of ~40% of TCS stock by Beyond
** Companies expect to drive higher traffic for TCS's core assortment by co-branding Bed Bath & Beyond products for kitchen, bath and bedroom
** The preferred equity investment helps to financially stabilize TCS amid a challenging backdrop - Jefferies
** As of last close, TCS stock down ~69% YTD
(Reporting by Savyata Mishra in Bengaluru)
((Savyata.Mishra@thomsonreuters.com))
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