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Shares of Hudson Ltd(NYSE: HUD) are up 45.9% in 9:50 a.m. EDT trading today, after the operator of in-airport convenience stores received a buyout offer from its controlling shareholder, Swiss-based Dufry AG Group.
Dufry already owned 57.4% of Hudson stock. Today, Dufry agreed to buy all of the shares it does not yet own for $7.70 each, cash, which it says is a 50% premium over the stock's Tuesday closing price.