Meal Delivery Service Blue Apron to be Sold

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Blue Apron, Hena, you might recall this. It's going to be sold to Wonder Group. That's a food delivery startup led by former Wal Mart executive Mark Lori. Blue Apron is valued at about $103 million in the deal with shareholders receiving $13 a piece in cash for their shares. It's a large premium of more than 130% to where the stock closed Thursday at $5.49 each. Blue Apron was once a household name with tasty recipes and fresh ingredients went public in 2017 but struggled to maintain its momentum as customers dropped out and the business became expensive. I remember that very well. Kristen live on the floor of the New York Stock Exchange. Thank you.