Buffalo Wild Wings soars on reported takeover offer
- Buffalo Wild Wings shares are up more than 26% on Tuesday.
- The pop comes following a report that Roark Capital Group offered $150 per share for the company.
- Watch the stock move in real time here.
Buffalo Wild Wings' stock is exploding higher Tuesday after Roark Capital Group offered to buy the company for $2.3 billion, according to a report from the Wall Street Journal.
Shares are up 26.40% to $148.20 a share, which is close to the $150 per share offer.
Buffalo Wild Wings is down 1.84% this year, including the post-report jump. The company has been struggling amid rising chicken wing costs.
The hedge fund Marcato Capital Markets started an activist investing campaign against the company, which led to CEO Sally Smith announcing she would step down at the end of 2017. Marcato succeeded in appointing three directors to the company's board.
Buffalo Wild Wings raised its full-year guidance and said it was killing its most popular promotion to save on costs in its third-quarter earnings report.
Read more about the take over deal from Roark.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- FPIs make remarkable comeback, infuse ₹2 lakh cr in FY24
- PM Modi and Bill Gates discuss AI, climate change, millets and more
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study