Independent Brewers United To Acquire Pyramid Breweries (PMID) for $2.75/Sh
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Independent Brewers United, Inc., the parent of Magic Hat Brewing Company & Performing Arts Center, Inc., and Pyramid Breweries Inc. (NASDAQ: PMID) jointly announced a definitive merger agreement that contemplates, among other things, a tender offer to purchase all of Pyramid's outstanding common stock for $2.75 per share in cash, or approximately $25.7 million in total purchase price.
Shares of Pyramid Breweries closed at $2.50 per share on Friday.
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