This is an amazing, yet logical move for anyone interested in getting into the coffee/appliance business. The deal is worth almost $14 billion and values GMCR at $92.
Keurig Green Mountain and JAB Holding Company announced that the companies have entered into a definitive merger agreement under which a JAB-led investor group will acquire Keurig Green Mountain for $92.00 per share in cash, or a total equity value of approximately $13.9 billion. JAB is acquiring Keurig Green Mountain in partnership with strategic minority investors who are already shareholders in Jacobs Douwe Egberts B.V., including Mondelez International (MDLZ) and entities affiliated with BDT Capital Partners. At the close of the transaction, Keurig Green Mountain will be privately owned and will continue to be operated independently by the company’s management team and employees.
The agreement, which has been unanimously approved by Keurig Green Mountain’s Board of Directors, represents a premium of approximately 77.9% over Keurig Green Mountain’s closing stock price on December 4, 2015.
The transaction is not subject to a financing condition and is expected to close during the first calendar quarter of 2016, subject to customary closing conditions, including receipt of regulatory approvals. The transaction requires the affirmative vote of holders of a majority of Keurig Green Mountain’s outstanding shares entitled to vote thereon.
As of Friday’s close, more than 12% of GMCR’s float was sold short. All of those people are dead now.
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Some negative talk recently regarding Keurig KOLD.
but shorts are the ones getting roasted.
David Einhorn restarted his short position at $102. Ouch. Not a loss but his profits are gone.
http://www.reuters.com/article/us-hedgefunds-einhorn-idUSKCN0SF2ZE20151021
tough year
Einhorn is Finkle, Finkle is Einhorn!
Now if JAB would only buy my KMI shares for an 80% premium!