BUZZ-Avocado producer Calavo jumps on $430 mln acquisition by Mission Produce
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Shares of Calavo Growerssurged 14.2% to $25.79 after Mission Produceannounced its acquisition of the company for $430 million. CVGW shareholders will receive $27 per share, including cash and AVO shares. The deal, approved by both boards, represents a 19.6% premium over CVGW's last sale. AVO shareholders will own approximately 80.3% of the combined firm post-transaction, expected to close by the end of August. AVO CEO John Pawlowski will lead the new entity from Oxnard, California.
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