Flowers completes tender offer for Tasty shares
THOMASVILLE, GA. — Flowers Foods, Inc. and Tasty Baking Co. have completed Flowers’ tender offer through its subsidiary, Compass Merger Sub, Inc., for all outstanding shares of Tasty common stock for $4 per share.
The tender offer was made in connection with an earlier Agreement and Plan of Merger. The tender offer began on April 21 and ended at midnight on May 19 and was not extended. Approximately 6,696,686 shares of tasty common stock, representing 77% of Tasty’s outstanding shares, were tendered.
The merger agreement originally was announced on April 10. After the merger, each share of Tasty common stock not accepted for payment during the offer will be converted into the right to $4 in cash per share with Tasty becoming a wholly-owned subsidiary of Flowers and Tasty common stock ceasing to be traded on the Nasdaq Global Market.