Canton, Mass. — Shares of Dunkin’ Brands Group Inc. rose by more than 15% on Oct. 26 as the Massachusetts-based coffee and breakfast chain moved forward with talks to be acquired by Atlanta-based Inspire Brands, the parent company of chains like Arby’s and Jimmy John’s.
The New York Post reports that the deal, which would take Dunkin’ private, is valued at $8.8 billion. Dunkin’s stock price closed at $89.80 per share on Oct. 23 and peaked at $104.87 per share in trading on Oct. 26 before closing just below that mark. Dunkin’ opened at $101.69 per share on Oct. 27, up nearly 30% from a year ago.
The New York Times reports that Inspire Brands has offered to purchase Dunkin’, which will release its latest earnings report on Oct. 29, at $106.50 per share.
SOURCE: www.REBusinessOnline.com