JAB, the owner of Caribou Coffee and Peet's Coffee & Tea, said on Wednesday it would buy U.S. bakery chain Panera Bread in a deal valued at about $7.5 billion, including debt, as it expands its coffee and breakfast empire.
JAB Holdings offered $315 in cash per Panera share, representing a 20.3 percent premium to the stock's closing price on March 31, the last trading day before media reports of a potential deal.
Panera shares had risen about 4.6 percent from March 31 through Tuesday's close of $274. The stock jumped nearly another 13 percent to $309.49 in premarket trading on Wednesday.
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