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JAB wraps up Einstein Noah deal.

M2 EQUITYBITES-November 6, 2014-JAB wraps up Einstein Noah deal


6 November 2014 - Acting through an affiliate, Luxembourg-based investor JAB Holding Company sarl has completed its tender offer for Einstein Noah Restaurant Group Inc and the acquisition of the US bagel speciality restaurant operator in a deal worth about USD374m (EUR299m), the parties jointly announced.

At the expiration of the offer at midnight on 4 November 2014, Einstein Noah shareholders had tendered about 16.5m units, or around 87.08% of the company's outstanding common shares. As announced in September, JAB will pay USD20.25 per share in cash.

Following the completion of the tender offer, JAB finalised the purchase of Einstein Noah by merging it with its affiliate Spruce Merger Sub Inc. As a result of the deal, the stock of Einstein Noah is no longer traded on NASDAQ, the press release said.

With the acquisition complete, the shares not tendered by Einstein Noah's stockholders were converted into the right to receive a cash payment equal to the price valid for the tender offer, the parties added.

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Publication:M2 EquityBites (EQB)
Date:Nov 6, 2014
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