Harbinger readies for ownership of Salton

By Lisa Kerner

Charlotte, N.C., Oct. 1 - Salton, Inc. investors Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund, LP and their newly created Grill Acquisition Corp. filed their intention with the Securities and Exchange Commission to effect a short-form merger.

The short-form merger will give Harbinger complete control of Salton's business, according to a schedule 13D/A filed with the SEC.

Prior to the consummation of the short-form merger, each of the Harbinger funds will contribute its shares, totalling approximately 691 million, to Grill, which will then merge with Salton.

Once the short-form merger is completed, each outstanding share will be cancelled and automatically converted into the right to receive $0.33 per share in cash, without interest, the filing said.

In December 2007 it was reported that the Harbinger Funds became the controlling stockholders of Salton, with a 92% stake in the company.

Lake Forest, Ill.-based Salton markets and distributes branded small appliances, home decor and personal care products.

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