2023-06-27 16:30:17 ET
- Whole Earth Brands ( NASDAQ: FREE ) confirmed it received a $4 per share takeover offer from Sababa Holdings to buy the sugar alternatives company.
- Whole Earth's ( FREE ) board formed a special committee to review and evaluate the Sababa proposal and any alternative proposals or other strategic alternatives that may be available to the company, according to a statemen t on Tuesday.
- The announcement comes after Sababa disclosed on Monday that it had made a non-binding proposal to acquire the company for $4 a share. Whole Earth ( FREE ) shares soared 25% on the announcement.
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Whole Earth Brands says board forms committee to evaluate takeover offer