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December 17, 2012
06:21 EDTTEA, SBUXTeavana reaches settlement with shareholders over Starbucks deal
Teavana Holdings (TEA), Starbucks (SBUX) and Taj Acquisition Corp., a wholly-owned subsidiary of Starbucks, entered into an Agreement and Plan of Merger. Andrew T. Mack, SKM Equity Fund III, L.P., SKM Investment Fund and Jurgen W. Link, the holders of 28,749,196 shares of Teavana’s common stock, which constitute approximately 74% of the voting power of the outstanding shares of Teavana’s common stock, executed a written consent approving and adopting the Merger Agreement. As a result, no further approval of the stockholders of Teavana is required to adopt the Merger Agreement. Starting on November 19, three purported Teavana stockholders filed putative class actions. A fourth class action was filed in the State of Georgia on December 7 and was voluntarily dismissed without prejudice on December 13. On December 14, the parties to the Stockholder Actions entered into an MOU reflecting an agreement in principle to resolve the Stockholder Actions. Subject to completion of certain confirmatory discovery by counsel to the plaintiffs, the MOU stipulates that the parties will enter into a stipulation of settlement. As part of the settlement, the defendants deny all allegations of wrongdoing and deny that the disclosures in the Definitive Information Statement were inadequate but have agreed to provide supplemental disclosures.
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August 15, 2014
06:39 EDTSBUXTim Hortons aims to lure customers via new coffee launch, Reuters says
Tim Hortons (THI) is looking to attract new customers and fight competitors, such as Starbucks (SBUX) and McDonald's (MCD), by revealing a new dark roast coffee blend throughout North America while possibly increasing prices to fend-off increasing expenses and rivals, according to Reuters, citing comments from Tim Hortons CEO Marc Caira. Caira said, "Looking at the coffee market, I would suggest that, given the degree of cost increases, that we are looking at prices going up sometime in 2015." Reference Link
August 12, 2014
12:34 EDTSBUXStarbucks lost some packaged coffee share, says Wells Fargo
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August 8, 2014
06:11 EDTSBUXOSI withdraws products made in Shanghai in response to food scandal
After dealing with a food scandal, OSI China, parent company of Shanghai Husi Food, announced the withdrawal of products produced in Shanghai. The company said, "Husi is the subject of company and government investigations and it is proceeding smoothly. While there have been no reported illnesses linked to any Shanghai Husi products, recovering this production is an important step in facilitating the investigations and rebuilding the respect and trust of our customers, the government and the people of China. With assistances and guidance provided by Shanghai FDA, we have started the recovery process of products in question in a comprehensive and orderly." Worldwide brands such Yum! Brands (YUM) McDonald's (MCD) and Starbucks (SBUX) were affected by the scandal in China. Reference Link

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