Peet’s Coffee & Tea (PEET) to Be Purchased by Joh. A. Benckiser for $73.50/Share in Cash
Tweet Send to a Friend
Get Alerts PEET Hot Sheet
Up)
Trade PEET Now!
Peet’s Coffee & Tea, Inc. (NASDAQ: PEET) and Joh. A. Benckiser today announced that they have entered into a definitive agreement under which JAB will acquire Peet’s for $73.50 per share in cash, or a total of approximately $1 billion.
At the close of the transaction, Peet’s will be privately owned and will continue to be operated by the company’s current management team and employees.
The transaction, which is structured as a one-step merger with Peet’s as the surviving corporation, is not subject to a financing condition and is expected to close in approximately three months, subject to customary closing conditions, including receipt of shareholder and regulatory approvals. The transaction requires the affirmative vote of holders of a majority of the company’s outstanding shares, which will be sought at a special meeting of shareholders.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
At the close of the transaction, Peet’s will be privately owned and will continue to be operated by the company’s current management team and employees.
The transaction, which is structured as a one-step merger with Peet’s as the surviving corporation, is not subject to a financing condition and is expected to close in approximately three months, subject to customary closing conditions, including receipt of shareholder and regulatory approvals. The transaction requires the affirmative vote of holders of a majority of the company’s outstanding shares, which will be sought at a special meeting of shareholders.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Correct: Buying Warner Chilcott plc (WCRX) Seen as Takeover Defense by Actavis (ACT)
- Optimer Pharmaceuticals (OPTR) Jumps as AstraZeneca (AZN), Cubist (CBST) Submit First Round Bids
- Apricus Biosciences (APRI) Higher After Terminates Shareholder Rights Agreement
Create E-mail Alert Related Categories
Hot M&A, Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
