Teavana Holdings Inc. (TEA) announced Wednesday afternoon that it agreed to be acquired by Starbucks Corp. (SBUX) for $15.50 per share in cash, in a transaction valued at $620 million.
Teavana Holdings broke out sharply to the upside in the final 2 hours of trade and closed higher by 5.32 at $15.45 on the highest volume of the year. The stock surged to over a 5-month high and re-crossed its 50-day moving average.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.