UTZ Brands to Be Taken Private by Intersnack Group for $14.25 per Share
MT Newswires Live
Jul 21
UTZ Brands (UTZ) has entered into a definitive agreement through which Intersnack Group will acquire all of its outstanding common stock for $14.25 per share in cash and take it private, the companies said Tuesday.
The price represents an enterprise value of about $2.9 billion and a 91% premium over Utz's closing price on July 20, according to a statement.
The deal is expected to close in Q4, subject to regulatory and other conditions, the companies said.
Shares of UTZ Brands were up more than 88% in premarket activity Tuesday.
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