Whole Earth Brands Shares Hit 52-Week High on Buyout Deal
Whole Earth Brands shares surged more than 35% to a new 52-week high Tuesday after the food company agreed to be taken private.
From the Equity Insider archive. This article dates from Feb 13, 2024 and is preserved as first published.
Whole Earth Brands shares surged more than 35% to a new 52-week high Tuesday after the food company agreed to be taken private.
Shares of the Chicago company were recently changing hands at a 52-week high of $4.77, up 36%.
Shares of the Chicago company were recently changing hands at a 52-week high of $4.
Whole Earth said it accepted a sweetened bid of $4.875 a share in cash from an entity controlled by its largest shareholder, nearly 39% above Monday’s closing price of $3.51.
The deal price also is 56% above Whole Earth’s trading price of $3.12 last June, before the original offer of $4 a share from Sababa Holdings FREE, which is controlled by Martin Franklin, who already owns nearly 21% of Whole Earth.
The deal is slated to close in the second quarter.
