Bottoms Up

Beer and wine in the Bay Area and beyond

Is this true? Looks like Pyramid had been sold to Magic Hat

By William Brand
Tuesday, April 29th, 2008 at 7:16 am in Uncategorized.

   Here’s all I’ve got.

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.

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