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Dr. Pepper Snapple (DPS) Soared To A New High After Bought By Keurig

Dr. Pepper Snapple (DPS) announced Monday morning that it has agreed to merge with Keurig Green Mountain. Dr Pepper Snapple shareholders will receive $103.75 per share in a special cash dividend and retain 13% of the combined company, which will be know as Keurig Dr. Pepper.

Dr. Pepper Snapple gapped open dramatically higher Monday, but pared its gains slightly in early trade. Shares finished with a gain of 21.42 at $117.07 on the highest volume of the year. The stock leaped to a new high for the year.

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