JAB Beech Completes $21/Share Acquisition of Krispy Kreme Doughnuts (KKD)
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Krispy Kreme Doughnuts, Inc. (NYSE: KKD) and JAB Beech Inc., an indirect controlled subsidiary of JAB Holding Company, announced the successful completion of the acquisition of Krispy Kreme by JAB Beech. The acquisition was announced on May 9, 2016, and the transaction closed and became effective today following the vote by shareholders of the Company to approve the deal at a special shareholder meeting earlier in the day.
Under the terms of the transaction, Company shareholders will receive $21 per share in cash for each share they own. As a result of the completion of the acquisition, Krispy Kreme’s common stock will cease trading as of today on the New York Stock Exchange.
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