Sonic sold to Arby's parent company for $2.3 billion
Share
Tweet
December 7, 2018
OKLAHOMA CITY (AP) — Shareholders have approved the sale of drive-in burger chain Sonic to the parent company of Arby's in a $2.3 billion merger.
Sonic shareholders ratified the pending agreement with Inspire Brands Inc. on Thursday, The Journal Record reported .
The company's investors voted on two proposals. The first was to authorize the merger and the other was to compensate Sonic's executive officers in connection with the deal. Following the merger, Sonic will no longer be traded publicly.
Cliff Hudson, current Sonic Chairman and CEO, said that getting approached for the deal was unantic...
For access to this article please
sign in or
subscribe.
Reader Comments(0)