Arby’s is buying Buffalo Wild Wings

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Arby’s is buying Buffalo Wild Wings – Nov. 28, 2017

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Arby’s is buying Buffalo Wild Wings, the chain of sports bars, for $2.9 billion, completing a deal that was rumored for the last couple of weeks.

Under the all-cash deal, Arby’s is paying $157 per share for Buffalo Wild Wings (BWLD), which represents a 7% premium based on Monday’s closing price.

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Buffalo Wild Wings stock had fallen most of this year, but it made back most of its losses because of rumors about a deal with Arby’s. The stock rose again in premarket trading Tuesday on news of the purchase agreement.

CNNMoney (New York) First published November 28, 2017: 7:27 AM ET

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