Whole Earth Brands Signs Definitive Agreement To Be Acquired By Affiliates Of Sababa Holdings FREE, LLC For $4.875 Per Share In An All-Cash Transaction
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Whole Earth Brands, Inc. (FREE) has entered into a definitive agreement to be acquired by Sweet Oak, an affiliate of Sababa Holdings FREE, LLC, for $4.875 per share in an all-cash transaction. This acquisition price represents a 56% premium over FREE's share price before the initial bid and a 37% premium over its 60-day VWAP as of February 12, 2024. The transaction, expected to close in Q2 2024, is subject to shareholder approval and other customary closing conditions. Upon completion, FREE's stock will be delisted from NASDAQ. Silver Point Finance LLC and Fortress Credit Corp. are providing debt financing, while Jefferies and DLA Piper LLP (US) serve as advisors to FREE. Citi and Greenberg Traurig, P.A. are advising Sweet Oak.
February 13, 2024 | 1:08 pm
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Whole Earth Brands, Inc. (FREE) is being acquired by Sweet Oak for $4.875 per share, a significant premium over its current and 60-day VWAP prices. The stock will be delisted from NASDAQ upon transaction completion.
The acquisition of Whole Earth Brands by Sweet Oak at a substantial premium to its current market price and 60-day VWAP indicates a positive short-term impact on FREE's stock price. The premium offers immediate liquidity and value maximization to shareholders, which is likely to be viewed positively by the market. However, the stock will be delisted post-transaction, ending its public trading.
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