The $7.5 billion acquisition of Panera Bread by an investment vehicle affiliated with JAB Holding is worth nearly $400 million to founder Ron Shaich. At the acquisition price of $315 per share, that’s a cool $393 million (before taxes) for Shaich. Because of the super-voting B shares, Shaich and entities affiliated with him represent 15.5% of the company’s voting power. Shaich co-founded Au Bon Pain in 1981, which purchased Saint Louis Bread Co., the predecessor company to Panera, in 1993. The deal price represents a 30% premium to Panera’s volume-weighted share price as of March 31, the last trading day before speculation broke about the deal.

Source: Forbes April 05, 2017 19:30 UTC