Utz shares explode as snack maker says it's going private

Snack maker Utz Brands — which owns Zapp's and several other brands, including its eponymous chip line — has agreed to be taken private by Germany's Intersnack Group in a deal worth about $2.9 billion. Intersnack will pay $14.25 a share in cash, a premium of more than 90% to Utz's last closing price of $7.45. Shares of the chip maker surged early Tuesday, jumping as much as 89% at one point. The deal will leave the founding Rice and Lissette family with ownership of half of Utz. submit

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