Arby's owner to acquire Buffalo Wild Wings for $2.4B

Arby's said on Tuesday that it reached a new deal to buy Buffalo Wild Wings for $2.4 billion in cash, according to USA Today.

Arby's bought Buffalo Wild Wings in a transaction that's valued at $2.9 billion. Goldman Sachs Group Inc. provided financial advice to Buffalo Wild Wings, while Minneapolis-based Faegre Baker Daniels LLP was its legal counsel.

Roark-owned Arby's Restaurant Group Inc. will operate the approximately 1,200 Buffalo Wild Wings locations as an independent subsidiary. There are now more than 1,250 Buffalo Wild Wings locations in 10 countries.

The deal still needs the approval of Buffalo Wild Wings shareholders, but is expected to close during the first few months of next year.

Arby's is majority owned by affiliates of Roark Capital Group, an Atlanta based private equity firm that focuses on investing in franchised and multi-unit businesses in the restaurant, retail, and other consumer sectors.

Android phones still track you when location services are off
Even devices that have gone through a factory reset were found to be transmitting private data back to the company. Google claims it is being sent to the same system that manages push notifications and the messages in Android.

Zakiur Rehman Lakhvi's Son Killed With Four Other Militants In Hajin Encounter
In October, two IAF Garud commandos were killed in an encounter that also left two terrorists including a local recruit dead. Defence spokesman Col Rajesh Kalia said six militants, including LeT commander Mahmood Bhai, were killed in the gunfight.

Paine, Marsh, Bancroft in Australia's Ashes squad
Their fast bowling will be led by Mitchell Starc, Josh Hazlewood, Jackson Bird and Pat Cummins. THE shock selection of Tim Paine for the Gabba Test has filled English hearts with optimism.

"We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team", Brown told Business Insider.

The agreement has been unanimously approved by both companies' boards of directors. The rebound at Arby's has come as diners turn away from so-called casual dining chains like Buffalo Wild Wings, where customers typically sit down and are served by waiters.

Buffalo Wild Wings' stock climbed 6.5% in premarket trading. "We are confident that the strength of our two industry-leading brands, under the sponsorship of Roark Capital-an experienced restaurant and food service investor-will enable us to capitalize on significant growth opportunities in the years ahead". Overall sales rose by 0.5 percent to $473 million while revenue also increased 0.5 percent to $496.7 million.

"The last three years there have been a disaster - there's a lot of low-hanging fruit", he said.