Magic Hat & Pyramid Breweries merging

Post by **Mike Grover** » Tue Apr 29, 2008 9:51 am

Two Leading Craft Brewers Intend to Merge
Tuesday April 29, 9:00 am ET

SEATTLE & SOUTH BURLINGTON, Vt.--(BUSINESS WIRE)--Pyramid Breweries Inc. (NASDAQ: PMID - News) (?Pyramid?) and Magic Hat Brewing Company & Performing Arts Center, Inc. (?Magic Hat?) today announced the execution of a Letter of Intent (?Letter of Intent?), which contemplates a transaction by which Magic Hat will acquire Pyramid, through an agreed all-cash tender offer and subsequent merger, at $2.75 per share of Pyramid common stock on a fully-diluted basis.