It’s Official! The Chalone Wine Group has accepted a buyout offer, but there is still time for a higher bidder to make an offer.
NEW YORK (Reuters) – Chalone Wine Group (CHLN) said on Monday it accepted an $11.75 per share buyout offer from French luxury wine maker Domaines Barons de Rothschild.
The deal, which would transfer the 54 percent of Chalone stock that Rothschild does not already own to the French company, represents a $2.50 per share increase from the initial offer.
Chalone can continue to seek higher buyout offers until the deal closes, the company said in a statement.
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