Utz Brands Soars 89.5% on $2.9B Take-Private Deal with Intersnack Group
UTZ has more than doubled off its 52-week low of $6.78 on elevated volume (18× avg).
Summary
Utz Brands is being taken private by German snack maker Intersnack Group in a $2.9 billion all-cash deal at $14.25 per share, a 91% premium to Monday's close. Shares surged 89.5% to $14.12 in morning trading, reflecting the near-certainty of the transaction. The Rice and Lissette family entities will retain a 50% stake, aligning interests with Intersnack, which gains its first U.S. foothold. This follows the initial announcement earlier today and adds key details on ownership structure and enterprise value. The deal is expected to close subject to shareholder and regulatory approvals.
At the time of this announcement, UTZ was trading at $14.12 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1B. The 52-week trading range was $6.78 to $14.67. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.