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Buffalo Wild Wings could push for a spiced-up bid

14 November 2017

The firm, which backed an unsuccessful takeover attempt for fried-chicken chain Popeyes Louisiana Kitchen Inc. within the past year, made an all-cash offer for Buffalo Wild Wings Inc. last month, according to a person familiar with the matter.

Maxim Group thinks Buffalo Wild Wings (NASDAQ:BWLD) could see a competing bid above the $150 offer from Roark Capital.

The Roark proposal was made on October 13 at a 48 percent premium to Buffalo Wild Wings's share price at the time, according to the person familiar with the situation. During the same quarter last year, the business posted $1.23 EPS. analysts forecast that Buffalo Wild Wings will post 4.98 earnings per share for the current fiscal year.

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Buffalo Wild Wings' stock had collapsed 34 percent from $163 a share to $108 a share, throughout the a year ago. The deal would value the company at more than $2.3 billion, said the person, who asked not to be identified because the discussions are private.

Wingstop shares are rising over 2% late after closing up 2.2% to 38.95. The company now has a consensus rating of "Hold" and an average target price of $131.57. Pacad Investment Ltd. increased its stake in shares of Buffalo Wild Wings by 23.7% in the 2nd quarter. Canaccord Genuity cut their price target on shares of Buffalo Wild Wings from $160.00 to $135.00 and set a hold rating for the company in a report on Friday, July 7th. The restaurant operator reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.57. On October 26 Wedbush held the stock rating at "In-Line" projecting a price of $115.00. If you are reading this story on another website, it was stolen and republished in violation of USA and worldwide trademark and copyright laws. The original version of this piece can be read at Prudential Financial Inc. now owns 12,486 shares of the restaurant operator's stock worth $1,907,000 after acquiring an additional 886 shares in the last quarter. Teachers Advisors LLC now owns 48,169 shares of the restaurant operator's stock valued at $7,358,000 after buying an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock. Marcato had accused Buffalo Wild Wings of ripping off franchisees, and nominated three directors to its board.

Buffalo Wild Wings could push for a spiced-up bid