Winemaker Duckhorn Stock Doubles on Takeover by Private-Equity Firm Butterfly
The acquisition at a significant premium indicates strong investor confidence. Similar past deals often lead to sustained price increases.
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The acquisition at a significant premium indicates strong investor confidence. Similar past deals often lead to sustained price increases.
What happened, with direct paths to the underlying reporting
Duckhorn Portfolio sells for $1.95 billion to private-equity firm Butterfly. Investors receive $11.10 per share, representing a 106% premium. Fourth-quarter adjusted EPS reached $0.14 with 7.3% revenue growth. The deal is seen as excellent news for future company growth. Shares doubled on Monday after the acquisition announcement.
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