Monster Beverage Corp (MNST): MNST MERGERS & ACQUISITIONS Update:...

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MiamiGent

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Friday, 07/07/2023 10:48:46 AM

Friday, July 07, 2023 10:48:46 AM

MNST
MERGERS & ACQUISITIONS

Update: Monster Moves Forward on Bang Acquisition After FTC Review Ends
July 6, 2023

https://stockcharts.com/h-sc/ui?s=MNST

Bang Energy and its assets will be acquired pending bankruptcy court approval.
By Andy Hanacek for Food Processing E-News

Monster Beverage Corp. entered into an asset purchase agreement this week with Vital Pharmaceuticals to acquire Bang Energy and its assets — including a production facility in Phoenix, Ariz. — according to a release distributed by Monster.

The acquisition had been announced in June, but was in danger of being scuttled while the Federal Trade Commission performed its review. According to reports, the FTC ultimately granted an early termination request for the deal, and this announcement is the next step in the deal coming to fruition.

The acquisition still will need to be approved by the courts. Vital Pharmaceuticals filed for Chapter 11 bankruptcy, and a settlement between Bang and Monster over a false advertising lawsuit also has slowed the process.