If Pyramid Breweries completes its sale to a Vermont brewing company, Seattle will have lost both its publicly traded breweries in one year.
Seattle could lose its last publicly traded brewery this year if Pyramid Breweries moves ahead with a plan to sell itself for $2.75 a share in cash to Magic Hat Brewing Co. & Performing Arts Center in South Burlington, Vt.
News of the planned deal sent Pyramid shares up 76 cents, or 43.1 percent, to close at $2.52. Pyramid has traded between $1.50 and $4.66 during the past year.
The companies filed a letter of intent with the Securities and Exchange Commission today, outlining several hurdles they must cross before the companies could be combined. If it clears those hurdles, the deal is expected to close by Aug. 31.
Seattle’s only other publicly traded brewery, Redhook Ale Brewery in Woodinville, plans to merge this year with Widmer Brothers Brewing of Portland. The combined breweries’ headquarters would move to Portland.
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