Keurig Stock Eyes Worst Day in 5 Years After Buyout

Shares of Keurig Dr Pepper Inc (NASDAQ:KDP) are 7.5% lower to trade at $32.49 this morning, after the company said it plans to buy Peet's Coffee parent JDE Peet's for $18 billion and then separate into two parts. One part will focus on coffee sales, while the other will move into cold beverage sales such as soda, energy drinks, and tea.The news has not been well received, with KDP headed for its worst daily drop since March 2020. The equity has not only broken below the recently supportive $35 floor, but is ...