Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
SpaceX sent 60 satellites into space in a key first mission toward the company's own high-speed internet network.Internetread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
Asia Pacific markets were mostly in negative territory on Friday morning as investors remained worried over trade tensions between the United States and China.Asia Marketsread more
Indian Prime Minister Narendra Modi's Bharatiya Janata Party would have the first back-to-back majority in the lower house of parliament for a single party since 1984.Asia Politicsread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
The deal would put Sam Adams beer and Dogfish Head's 60-, 90- and 120-Minute IPAs and sour beers all under the same company and combine two high-end craft breweries.
The transaction is expected to close towards the end of the second quarter of 2019. Boston Beer will be consolidating Dogfish Head's financial results into its quarterly report at the end of the second quarter of 2019.
The combined company will be led by Boston Beer CEO Dave Burwick. Both founders, Jim Koch of Boston Beer, and Sam Calagione of Dogfish Head, will be involved in the newly-combined company. The new company will also maintain a significant presence in Delaware, home of Dogfish Head.
Sam and Mariah Calagione, founders of Dogfish Head, will take nearly all of their merger consideration in the form of Boston Beer stock, becoming the largest shareholders in the company after Jim Koch. They will receive approximately 406,000 shares of Boston Beer stock, based on an agreed upon share price of $314.60.
Sam Calagione is set join Boston Beer's board of directors beginning in 2020.
Dogfish head shareholders will also receive $173 million in cash.
"We're also proud to announce that we intend to devote a percentage of the Boston Beer stock that we receive to establishing a foundation and funding various local charitable programs," Sam Calagione announced in the press release.
Dogfish Head is on pace to sell almost 300 thousand barrels in 2019. The company's net sales for the year are expected to be between $110 million and $120 million.
Boston Beer reported a little over $1 billion in revenue for fiscal year 2018.