Arby’s to Buy Buffalo Wild Wings for About $2.4 Billion
Our restaurant chains are buying themselves all up!
Earlier this year, Olive Garden bought Cheddar's Scratch Kitchen and Burger King's parent company bought out Popeyes. Today (Nov. 28), Arby's Restaurant Group Inc. announced it's putting cash on the table for Buffalo Wild Wings - a lot of cash, according to CNN Money.
They will be paying $157 a share, though Buffalo Wild Wingss' closing price on Monday was $146.40, reports ABC News. That deal is worht about $2.4 billion. While the deal needs approval from the B-Dubs shareholders, active investors are pressuring the company to sell.
What does this mean for B-Dubs? Reuters says it will be privately operated and will act as an independent brand from Arby's.
Including debt, the deal is valued at around $2.9 billion.