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BOSTON (AP) - A Sun Capital Partners affiliate will buy Friendly Ice Cream Corp. for $337.2 million in cash.
The deal announced Sunday is expected to close during the third quarter. Shareholders will receive $15.50 per share from Freeze Operations Holding Corp., according to a statement.
The offer represents an 8.2 percent premium over the closing price of Friendly's common stock on Friday, the company said in the statement.
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