US: Magic Hat completes Pyramid Breweries takeover
Independent Brewers United, owner of Magic Hat Brewing Company, has completed the takeover of Pyramid Breweries.
Independent Brewers United (IBU) said yesterday (4 August) that it paid US$2.75 per share to complete its tender offer for all of the outstanding common shares in Pyramid.
The deal will see Pyramid, a producer of speciality beers in the US with breweries in Berkeley, California and Portland, Oregon, become a fully-owned IBU subsidiary.
The two breweries initially anounced they had agreed to merge in April. Pyramid said that intends to de-list from the Nasdaq stock exchange.
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