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Article: Jenny craig stock up after announcement of sale: Lawsuit maintains company is undervalued. (Health).(Brief Article)(Statistical Data Included)
- Article from:
- San Diego Business Journal
- Article date:
- February 4, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jenny Craig Inc. shares closed at a 62.5 percent premium for three consecutive days after the weight-loss firm agreed to sell itself for a cash deal valued at $115 million.
Shares of the La Jolla-based company, which is traded on the over-the-counter bulletin board, closed at $5.12 from Jan. 28 through Jan. 30, up from a closing price of $3.15 on Jan. 25.
Jenny Craig announced Jan. 28 it would be bought by investors Deutsche Bank AG's DB Capital Partners, ACI Capital Co. and cofounders Sid and Jenny Craig.
Lisa Well, a spokeswoman for Jenny Craig, said the company will remain in San Diego and doesn't plan any layoffs among its 3,500 worldwide ...