Shares of Atlanta based Teavana (TEA) are soaring after Starbucks (NASDAQ:SBUX) announced plans to acquire the company. The coffee giant will expand to Teavana's 300 mall based locations, and add additionalal stores outside of malls, as well.
Teavana shareholders will received $15.50 per share in cash in the deal expected to close before the end of the year.
Starbucks shares are lower by about two percent, while Teavana shares are higher by more than 50 percent.
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