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Big Law

Subway Announces the Possibility of Selling Company

Subway said Tuesday that it’s exploring a possible sale of the company.

“There is no indication of timing or assurance that a sale will occur,” the sandwich chain said in a brief statement. “J.P. Morgan is advising the company and will conduct the sale exploration process.”

The company declined to comment further.

Last month, the Wall Street Journal said Subway was exploring a sale that could value the sandwich chain at more than $10 billion.

The decision comes a little more than a year after the company’s last surviving founder, Peter Buck, died in 2021. Subway is privately owned by its two founding families. In late January, Subway’s late cofounder, Buck, gave his 50% stake in Subway to his foundation, where his two sons work.

Read the source article at businessinsider.com

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