Report of Ben & Jerry’s Offer Boosts Stock

Shares of Ben & Jerry’s Homemade Inc. rose nearly 5% on reports that Dreyer’s Grand Ice Cream Inc. sweetened its takeover offer for the socially active maker of such upscale ice cream flavors as Cherry Garcia, Chunky Monkey and Phish Food. Neither Ben & Jerry’s nor Oakland-based Dreyer’s would comment on a Wall Street Journal report that Dreyer’s had offered to buy Ben & Jerry’s for $35 to $38 a share in stock. A few months ago, Dreyer’s offered $31 a share. The latest Dreyer’s bid would value Ben & Jerry’s between $250 million and $270 million. The board of Ben & Jerry’s is considering a $38-a-share cash offer from a group that includes co-founder Ben Cohen. That deal calls for the new owners to take the company private in a bid to maintain its social mission. Shares in the South Burlington, Vt.-based company shot up $1.56, or 4.8%, to close at $34.13 on Nasdaq. Dreyer’s fell $1.19, or 4.6%, to close at $24.94, also on Nasdaq.