Shares of Teavana Holdings (NYSE: TEA) re-opened in the final hour of trade on Wednesday after being halted for news in the wake of market rumors that the company was being acquired by Starbucks (NASDAQ: SBUX).
Those rumors proved correct, as Starbucks has agreed to acquire the Atlanta-based Teavana for $ 15.50 per share, or around $ 620 million in cash. Teavana re-opened for trading up more than 52 percent to $ 15.46. In the wake of the rumors, the stock had shot up around 27 percent prior to being halted.
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