Arby's buying Buffalo Wild Wings in deal worth over $2.4 billion
ATLANTA, Ga.- In a deal worth about $2.4 billion, Arby's is buying casual dining chain Buffalo Wild Wings.
According to ABC 7, Arby's Restaurant Group Inc. said Tuesday that it will pay $157 per share. That is a seven percent premium to Buffalo Wild Wings Inc.'s Monday closing price of $146.40.
Including debt, both companies put the transaction's value at $2.9 billion. ABC 7 also says, Buffalo Wild Wings will become a privately held subsidiary of Arby's and will continue to operate as an independent brand once the deal closes.
The deal is expected to close in 2018's first quarter.