SodaStream Up 18% On Going Private Rumor
SodaStream International (NASDAQ: SODA) jumped nearly 19 percent on a rumor about the company going private.
The company is in discussions with investors in a deal valuing the company at about $40 per share, or $828 million, according to anonymous sources cited by Bloomberg news service.
Shares traded recently at $34.25, up 18.34 percent.
Israel-based SodaStream sells home beverage carbonation systems and related products.
Several private-equity funds are weighing a leveraged buyout of SodaStream, according to Bloomberg's source.
SodaStream hit a 52-week low earlier this month of $28.65. Revenue for its most recent quarter was flat and competition will emerge next year when a venture of Coca-Cola and Keurig Green Mountain plan to launch a home soda machine.
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