Dutch coffee maker D.E. Master Blenders 1753 said it is in negotiation to be purchased by a group led by Germany's Joh. A. Benckiser GmbH for around 7.6 billion euros.
Master Blenders said in a statement that companies bidding for the company are looking at a price of 12.75 euros a share. It stated that the talks with the group are still at their early stage, highlighting that there is no assurance deal will be completed.
Following Master Blender's spun off by Sara Lee Corp. in June last year, the company had to make reinstatement of its earnings due to irregularities in the accounting processes at its operations in Brazil.
Benckiser holds 15% in Master Blenders already. It also has shares in Caribou Coffee and Peet's Coffee & Tea Inc.
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