Buffalo Wings stocks skyrocket on buy report
Thanks for contacting us. We've received your submission.
Buffalo Wild Wings shares were looking mighty tasty on Monday.
Shares of the Minnesota-based wings-and-beer chain soared more than 28 percent in after-hours trading, past $150, following a report that private equity firm Roark Capital recently made a $2.3 billion bid on the company.
The bid, which values Buffalo Wild Wings at $150 a share, came a few weeks ago, The Wall Street Journal reported, citing sources. The private equity firm also has investments in Jimmy John’s, Arby’s and Carl’s Jr.
Roark Capital and Buffalo Wild Wings representatives did not immediately respond to requests to comment.
As stunning as the Roark bid was reported to be — nearly 22 percent above its Monday closing price of $117.25 — Buffalo Wild Wings’ stock, down 24 percent his year, was trading as high as $163.75 as recently as April.
The business has been hurt by weak same-store sales and high wing costs.
Marcato has pushed the company to franchise more of its 1,200 locations and has said that the company’s share price could go as high as $400.
News Corp. is a network of leading companies in the world of diversified media, news, and information services.
November 14, 2017
Sources:` New York Post
If the government is to be believed, we’ll all be driving electric cars by 2040. So why not start now, or at least start with a hybrid, here are the pick of the bunch.
The American bosses of Toys R Us could pocket millions of dollars in Christmas bonuses while hundreds of UK staff fear for their jobs.
With the new Republican tax law set to put a cap of $10,000 on federal property tax deductions for 2018, New York taxpayers are scrambling this week to figure out if they can prepay and take their deduction before year's end. Next year’s property taxes can be prepaid in New York City, and so can...
It’s going to be a long winter for Apple’s legal team. The Silicon Valley titan is now facing at least eight US class-action suits after it admitted it intentionally slows down older iPhone models to prevent excessive wear and tear on their batteries. The company acknowledged last week for the first time in detail that...
With its festive red livery and a name that sounds like one of Santa's speedier reindeer, what better present to give yourself this Christmas than the sporty and bold new Stinger grand tourer.
Both Apple and Amazon are in talks to invest in Saudi Arabia, sources told Reuters, part of Crown Prince Mohammed bin Salman’s push to give the conservative kingdom a high-tech look. Both companies already sell products in Saudi Arabia via third parties but they and other global tech giants have yet to establish a direct...
The new tax code limits the amount that people can deduct on federal returns.