Dunkin’ (NASDAQ:DNKN) is making news on Monday following the announcement that Inspire Brands plans to acquire it for a hefty sum.
Here’s what investors in DNKN stock need to know about the Dunkin’ acquisition news.
- The Inspire Brands’ deal is valued at $11.3 billion including DNKN’s debt and will take it private.
- This has it offering $106.50 per share for DNKN stock.
- That’s a 6.8% premium over the closing price for the stock on Friday.
- It’s also a 30% premium over the stock’s 30-day volume-weighted average price.
- Investors should keep in mind that news of the deal leaked earlier this month and boosted DNKN’s stock price.
- The Boards of Directors at Inspire Brands and Dunkin’ have both given their unanimous support to the deal.
- Dunkin’ and Inspire still need to complete customary closing conditions before the deal can close.
- So long as there are no troubles, the acquisition is set for completion by the end of the year.
Dave Hoffmann, CEO of Dunkin’, said the following about the news.
“We are excited to bring meaningful value to shareholders who have been with us on this journey and believe that Inspire Brands, a preeminent operator of franchised restaurant concepts, will continue to drive growth for our franchisees while remaining true to all that is unique and special about the Dunkin’ and Baskin-Robbins brands.”
DNKN stock was up 6.4% as of Monday afternoon and was up 38.7% year-to-date.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.