NEW YORK (AP) — Shares of Buffalo Wild Wings soared in after-hours trading Monday after a report that private-equity firm Roark Capital Group was offering a deal for the chicken wing chain.
The Wall Street Journal, citing people familiar with the matter that it did not name, reported that Roark offered $150 a share for Buffalo Wild Wings in recent weeks. That would value the deal at more than $2.3 billion.
Roark, which has investments in the Arby's and Auntie Anne's Pretzels chains, declined to comment Monday. A representative for Buffalo Wild Wings Inc. did not immediately respond to a request for comment.
Shares of Buffalo Wild Wings closed at $117.25 Monday, but after the report was released, they jumped 28 percent to $150.10 in after-hours trading.