Arby's Restaurant Group To Acquire Buffalo Wild Wings In Approx. $2.9 Bln Deal

(RTTNews) - Arby's Restaurant Group, Inc. and Buffalo Wild Wings, Inc. (BWLD) announced a definitive merger agreement under which Arby's will acquire Buffalo Wild Wings for $157 per share in cash, in a transaction valued at approximately $2.9 billion, including BWW's net debt. Following the close of the transaction, BWW will be a privately-held subsidiary of Arby's Restaurant Group, Inc. and will continue to be operated as an independent brand. Paul Brown will serve as CEO of the parent company.

Certain funds advised by Marcato Capital Management, LP, which own approximately 6.4% of the outstanding shares of BWW, have entered into an agreement to vote in favor of the transaction.