Private equity firm Butterfly will pay Duckhorn stockholders $11.10 per share, representing a premium of about 106% to the wine maker's last close on Friday. Shares of Duckhorn were trading at $10.92 in premarket trading. The transaction, which was unanimously approved by the Duckhorn board, is expected to close this winter and subject to regulatory approval.
(Reuters) -Premier luxury wine maker Duckhorn Portfolio (NAPA) said on Monday it would be taken private by Butterfly Equity in an all-cash deal worth $1.95 billion.
The Duckhorn Portfolio, Inc. (NAPA)
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