Harcourt Brace will buy Florida Cypress Gardens.
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After the merger, each share of Florida Cypress Gardens’ stock will be converted into 0.16 shares of Florida-based Harcourt Brace Jovanovich, parent of Sea World aquatic amusement parks in San Diego, Cleveland and Orlando, Fla. The deal is worth about $23.8 million, or $8.30 per share, based on Florida Cypress Gardens’ nearly 2.9 million shares of common stock and the closing price of HBJ’s common stock Thursday of $51.875.
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