Monday, December 17, 2012 10:09:07 AM
9:00 AM ET 12/17/12 | Briefing.com
Co announced a definitive merger agreement under which an affiliate of Joh. A. Benckiser (JAB) will acquire Caribou for $16.00 per share in cash, or a total of approximately $340 million. The agreement, which has been unanimously approved by Caribou's independent directors, represents a premium of approximately 30% over Caribou's closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction. At the close of the transaction, Caribou will continue to be operated as an independent company with its own brand, management team and growth strategy. Caribou will remain based in Minneapolis, Minnesota. The tender offer is not subject to a financing condition. Joh. A. Benckiser and affiliated companies is a privately held group focused on long term investments in companies with premium brands in the Fast Moving Consumer Goods category. The Joh. A. Benckiser-group's portfolio includes a majority stake in Peet's Coffee & Tea Inc.
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