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San Francisco--Jamba Juice Co., in a deal its leader said would fuel expansion of the 532-unit smoothie chain, has agreed to a $265 million buyout by Services Acquisition Corp. International, or SVI, a Fort Lauderdale, Fla.-based investment firm headed by former Blockbuster Inc. chief executive Steven Berrard.(JUST IN)
SAN FRANCISCO -- JAMBA JUICE CO., in a deal its leader said would fuel expansion of the 532-unit smoothie chain, has agreed to a $265 million buyout by SERVICES ACQUISITION CORP. INTERNATIONAL, or SVI, a Fort Lauderdale, Fla.-based investment firm headed by former Blockbuster Inc. chief executive STEVEN BERRARD. Under terms of the agreement, Jamba Juice shareholders would receive the merger price in cash, excluding unspecified debt and transaction costs. SVI is funding the deal with a private placement of common stock, which Jamba Juice said is …
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