Roark Capital makes $150-plus per share bid for Buffalo Wild Wings

Source Buffalo Wild Wings

The firm, which backed an unsuccessful takeover attempt for fried-chicken chain Popeyes Louisiana Kitchen Inc. within the past year, made an all-cash offer for Buffalo Wild Wings Inc. last month, according to a person familiar with the matter.

News headlines about Buffalo Wild Wings (NASDAQ:BWLD) have trended somewhat positive this week, Accern Sentiment reports.

Bloomberg reports that Roark's offer was made on October 13 at a 48% premium to the share price of Buffalo Wild Wings on that date. During the same quarter last year, the business posted $1.23 EPS. analysts forecast that Buffalo Wild Wings will post 4.98 earnings per share for the current fiscal year.

The news on Monday sent Buffalo Wild Wings shares up by as much as 28% in after-hours trading.

Roark Capital values the restaurant chain at more than $2.3 billion and wishes to buy the Buffalo Wild Wings, best known for its bar and chicken wing appetizers. The firm had revenue of $496.70 million for the quarter, compared to analysts' expectations of $500.97 million. Zacks Investment Research cut Buffalo Wild Wings from a "hold" rating to a "sell" rating in a research note on Friday, October 27th.

Barclays is reportedly working as Roark's financial adviser, while Goldman Sachs is working with Buffalo Wild Wings. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company's stock. As of the latest earnings report the EPS was $3.84 with 15.51M shares now outstanding. If you are viewing this piece of content on another site, it was stolen and republished in violation of US and global copyright legislation. The correct version of this story can be read at Hedge funds and other institutional investors own 89.14% of the company's stock. Pacad Investment Ltd. now owns 9,400 shares of the restaurant operator's stock valued at $1,191,000 after purchasing an additional 1,800 shares during the last quarter. As of quarter end Amalgamated Bank had disposed of a total of 326 shares trimming its holdings by 13.3%. Dimensional Fund Advisors LP increased its stake in shares of Buffalo Wild Wings by 3.1% in the 2nd quarter. Finally, Teachers Advisors LLC raised its stake in Buffalo Wild Wings by 3.6% during the first quarter.

Buffalo Wild Wings, Inc is the owner, operator and franchisor of restaurants.



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