Big Law

Subway Agrees to Sell Itself to Roark Capital in Deal Worth Over $9 Billion

Subway has agreed to sell itself to private equity firm Roark Capital in a deal valuing the sandwich chain at more than $9 billion, sources said, ending a long-drawn auction that saw several bids from buyout firms.

Roark beat out a late challenge from a rival bidding group led by TDR Capital and Sycamore Partners, which also submitted a final bid of more than $9 billion, according to people familiar with the matter.

Subway, which has roughly 37,000 restaurants in more than 100 countries, did not disclose the terms of the deal on Thursday.

Read the source article at Yahoo Finance

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