Russia Designates U.S.-Backed Broadcasters as ‘Foreign Agents’
By IVAN NECHEPURENKO World http://ift.tt/2nrlb2Q
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Wendy's to make almost $450 million on Buffalo Wild Wings acquisition
Burger chain Wendy's stands to gain nearly $450 million following the acquisition of Buffalo Wild Wings by Roark Capital Group. On Tuesday, the private equity firm said it would buy the chicken wing chain for $2.4 billion, or $157 per share. Buffalo Wild Wings will become a unit of Roark's Arby's and operate as an independent brand. Currently, Wendy's owns about 18.5 percent of Arby's, with their stake valued at around $325.9 million, as of the third quarter this year. "This implies a value of $1.76 billion for Arby's," Stifel analyst Chris O'Cull wrote in a research note Tuesday. "Following the acquisition of BWLD, Arby's Restaurant Group excluding debt would theoretically be valued at roughly $4.2 billion." Wendy's stake would then be valued at $775 million before tax, O'Cull said. And that is a big boon for the burger chain. "Prior to the acquisition, the Arby's stake made up 9.8 percent of WEN's
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