6 years ago
Burger chain Sonic to be acquired by Arby's parent company in $2.3 billion deal
The parent company of Arby's and Buffalo Wild Wings is acquiring burger chain Sonic in a deal valued at $2.3 billion, the companies announced on Tuesday. The deal, which will pay Sonic shareholders $43.50 per share in cash, assumes all debt and represents a 19 percent premium on Sonic's Monday close.The company's stock rose more than 18 percent Tuesday, hitting an all-time high of $44.87 per share.
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