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Jarden Corp. to Buy K2

Jarden Corp., a publicly traded company specializing in consumer products, has agreed to buy K2 Inc., the Carlsbad-based sporting goods company, for $15.50 per share.

Shares of K2 were up nearly 20 percent on the news at midday April 25, the day the companies announced the deal.

The sale is valued at $1.2 billion and includes the assumption of debt. For every share of K2 stock, Jarden will pay $10.85 cash and issue one-tenth of a share of common stock.

Based in Rye, N.Y., Jarden has a diversified product line that includes Mr. Coffee, Oster and Sunbeam kitchen appliances as well as Coleman lanterns.

Shares of K2, listed on the New York Stock Exchange as KTO, were trading at $15.09 at midday April 25. Jarden shares, traded on the New York Stock Exchange as JAH, stood at $41.90 at midday April 25, down 2.78 percent from the previous day’s closing price.

K2’s brands include Rawlings baseball gloves, as well as K2 skis, snowboards and boots.

The deal is expected to close during the third quarter.

, Brad Graves

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