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Panera, Shareholders Tussle Over $10-Per-Share Valuation Change

Oct. 7, 2019, 10:33 PM

Former shareholders of Panera Bread Co. are questioning why the restaurant chain “suddenly” changed its valuation after their trial over whether it was sold at at a properly valued price

JAB Holding Co., a Luxembourg private equity firm that also owns stake in Keurig Dr Pepper and Peet’s Coffee & Tea, bought Panera in 2017 for $7.5 billion. Panera shareholders sued in Delaware’s Court of Chancery, arguing that the $315 per-share deal price that founder Ron Shaich negotiated was too low. Shaich sold the company without shopping it around because he wanted to retire, investors said.

A six-day trial was...

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