SODA, SBUX: SodaStream Stock Surges on Starbucks Deal News

by Karl Utermohlen | April 23, 2014 4:59 pm

SodaStream’s (SODA[1]) stock skyrocketed today following news of a potential sale to Starbucks (SBUX[2]).

SodaStream[3]The coffee company is looking to buy[4] 10% of SodaStream, according to Israeli business news publication Globes. The report’s sources claim that a deal between the two sides will be announced soon.

The deal would cost Starbucks a whopping $1.1 billion, a 30% premium on the company’s market price. The beverage company’s stock has been booming ever since news of the coffee giant taking a stake on the company broke out.

SODA stock is up over 10.7% after closing on Wednesday. SBUX stock is down over 1%.

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