Inspire Brands To Acquire Sonic In Approx. $2.3 Bln Deal - Quick Facts

(RTTNews) - Sonic Corp. (SONC) and Inspire Brands, Inc. announced a definitive merger agreement under which Inspire will acquire Sonic for $43.50 per share in cash in a transaction valued at approximately $2.3 billion including the assumption of Sonic's net debt. The transaction is subject to the approval of Sonic shareholders and the satisfaction of customary closing conditions, and will close by the end of the year.

Inspire is a multi-brand restaurant company whose portfolio includes more than 4,700 Arby's, Buffalo Wild Wings, and Rusty Taco locations worldwide. Following the completion of the transaction, Sonic will be a privately-held subsidiary of Inspire and will continue to be operated as an independent brand.