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Hedge fund seeks higher price for Caribou after Benckiser deal

Reuters – A hedge fund with a 4 percent stake in Caribou Coffee Co on Wednesday urged the company to pursue a better deal after it agreed to be sold to Germany’s Benckiser group for $340 million, saying it is easily worth double that price.

Accretive Capital Partners LLC of Madison, Connecticut, said in a letter to the company’s board that it was dismayed by the price of $16 per share that Caribou announced on Monday.

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