Arby’s Restaurant Group, Inc. and Buffalo Wild Wings, Inc. Announce Definitive Merger Agreement

ATLANTA & MINNEAPOLIS--(BUSINESS WIRE)--Arby’s Restaurant Group, Inc. (“ARG”) and Buffalo Wild Wings, Inc. (Nasdaq: BWLD) (“BWW”) today announced that the companies have entered into a definitive merger agreement under which ARG will acquire BWLD for $157 per share in cash, in a transaction valued at approximately $2.9 billion, including BWW’s net debt. The agreement, which has been unanimously approved by both companies’ Boards of Directors, represents a premium of approximately 38% to BWW’s 30-day volume-weighted average stock price as of November 13, 2017, the latest trading day prior to news reports speculating about a potential transaction.