Guess confirmed via an e-mail late Tuesday afternoon local newspaper reports that he has proposed to buy Winston-Salem, N.C.-based Krispy Kreme at $7.25 a share plus assumed debt in a deal valued at more than $500 million. The offer was addressed to James Morgan, the company's chairman and CEO, in a letter dated June 29.
A call to Morgan was referred to Krispy Kreme spokesman, who did not return phone calls seeking comment.
Guess, whose full name is Jerry Demario "Dee" Guess, is a managing director at MGL, a Charlotte, N.C.-based investment company about which little is known. What's more, Guess is just 23 years old, though he claims experience.
Despite skepticism, reports of the offer have sweetened Krispy Kreme's stock price. It was up more than 4%, at $5.21, a share in late afternoon trading on Tuesday. - Christine Idzelis
