Clif Bar billionaires reap 2,400% gain by rebuffing early buyout
Clif Bar billionaires reap 2,400% gain by rebuffing early buyout
By Josephine Walker | Bloomberg
Gary Erickson was offered a tantalizing sum from Quaker Oats in 2000 to sell Clif Bar & Co., his upstart energy-bar maker: $120 million.
He walked away. As the company’s website put it: “CLIF Is Not For Sale.”
Twenty-two years later, that calculus has changed. Erickson and his wife, Kit Crawford, this week accepted a $2.9 billion buyout from snack giant Mondelez…
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