Dr Pepper Snapple To Buy Antioxidant Drink Maker Bai Brands
Zacks Investment Research | Nov 23, 2016 07:51AM ET
Dr Pepper Snapple Group, Inc. (NYSE:DPS) has agreed to take over Bai Brands, LLC ("Bai") as well as its entire portfolio of high-growth premium antioxidant-infused beverages in order to expand in the low-calorie beverage market.
Investors cheered the decision, sending Dr Pepper’s share price rallying 2.64% on Nov 22.
The purchase price is $1.7 billion, which includes a tax benefit of $400 million on a net present value basis. The cash deal will be financed through new unsecured notes and a short-term commercial paper.
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