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Pyramid Breweries to be acquired by Magic Hat Brewing Co. for $2.75 per share

BOSTON (Thomson Financial) – Pyramid Breweries Inc. and Magic Hat Brewing
Co. said Tuesday the two companies have signed a letter of intent for Magic Hat
to acquire Pyramid through an all-cash tender offer.
Magic Hat will pay $2.75 for each Pyramid share. The offer represents a 56%
premium over Monday’s closing price of $1.76 for shares of Pyramid, a
Seattle-based beer brewer.
The closing of the proposed transaction is anticipated to occur no later
than August 31.
Pyramid shares were halted in premarket trading.