March 9/CNNMoney.com -- Jones Soda has agreed to be acquired by rival Reed's in a deal worth just shy of $10 million, the companies said.
Jones shareholders will receive 4.5 million shares of Reed's common stock and cash of 10 cents a share, or about $2.6 million. That means natural soda maker Reed's valued Jones at 37 cents per share. The deal, which is not yet binding, is worth about $9.8 million on those terms.