Keurig Green Mountain bought for $13.9 billion by firm that owns Peet’s Coffee
By MATT EGAN, CNN Money
Keurig Green Mountain reached a $13.9 billion deal on Monday to be acquired by an investor group led by JAB Holding. Keurig (GMCR) will join rival brands Peet’s Coffee & Tea, Stumptown Coffee Roasters and Caribou Coffee, all of which are part of a portfolio of brands owned by JAB.
JAB is paying $92 a share to buy Keurig. It’s a 78% premium over the K-Cup maker’s closing price on Friday. Keurig has not had a very good year, posting a slump in profits and sales. Its stock had lost half its value up through Friday.
After the deal closes, Keurig will be privately owned. However, the K-Cup maker will continue to be operated independently and keep its headquarters in Waterbury, Vermont.
First GM China-made import to U.S. to go on sale in mid-2016
By BERNIE WOODALL, Reuters
By next summer, the Buick Envision small SUV will become the first General Motors Co (GM.N) model imported from China to be sold in the United States, the company said on Friday.
Reuters reported in August that by 2017 most Buick’s U.S. sales could be of models produced in either China or Europe.
The Envision will give Buick three “crossover” vehicles in the U.S. market. In November, crossover vehicles accounted or 40 percent of U.S. auto sales and is the fastest-growing segment of the auto industry.
Export-Import Bank Is Revived
By NICK TIMIRAOS, Wall Street Journal
Legislation signed by President Barack Obama on Friday resurrected the U.S. Export-Import Bank and ended a five-month lapse that revealed far stronger bipartisan backing for the agency than the pitched battle to shut it down suggested.
The outcome now gives the bank a firm footing until September 2019, but the brawl over its existence this year left both economic and political scars.
The Ex-Im Bank charter ran out in July, preventing the agency from writing new business, after key lawmakers bottled up legislation that would overhaul and renew it. The unprecedented pause in activity for the 81-year-old agency that finances American exports prompted companies to move business abroad or risk lost sales.
Report: Michigan clean-energy supply chain thriving, but threatened
By ANDY BALASKOVITZ, Midwest Energy News
In Michigan, more than 300 businesses are active in the clean-energy sector, creating a supply chain of manufacturing, financing, engineering, designing and installing wind, solar and advanced battery systems, according to a new report from the Chicago-based Environmental Law and Policy Center.
And much of that economic development can be attributed to the state’s 2008 renewable portfolio standard that mandated 10 percent of the state’s generation portfolio come from renewables by the end of this year. Utilities have easily hit the target.