Market Overview

Teavana Re-Opens Up 52%

Shares of Teavana Holdings (NYSE: TEA) re-opened in the final hour of trade on Wednesday after being halted for news in the wake of market rumors that the company was being acquired by Starbucks (NASDAQ: SBUX).

Those rumors proved correct, as Starbucks has agreed to acquire the Atlanta-based Teavana for $15.50 per share, or around $620 million in cash. Teavana re-opened for trading up more than 52 percent to $15.46. In the wake of the rumors, the stock had shot up around 27 percent prior to being halted.

Posted-In: News M&A Intraday Update Movers

 

Related Articles (SBUX + TEA)

Around the Web, We're Loving...

Get Benzinga's Newsletters