September 25, 2018 / 1:36 PM / a month ago

Sonic to be acquired by Arby's owner for $1.57 bln

Sept 25 (Reuters) - Drive-in restaurant chain Sonic Corp said on Tuesday it had agreed to be bought by Arby’s-owner Inspire Brands Inc for $1.57 billion in cash.

Inspire will pay about $43.50 per Sonic share, a 19 percent premium to the stock’s Monday close.

The deal is valued at about $2.3 billion including debt, the companies said. (Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below