On November 28, 2017, Buffalo Wild Wings announced that it had signed a definitive merger agreement with Arby's. The total value of the agreement is $2.9 billion when including BWLD's net debt. But the chain has suffered with a trend away from casual dining, competition from other restaurants and an increase in the cost of chicken wings, CNN Money reported.
The investigation concerns whether the Buffalo Wild Wings board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Buffalo Wild Wings shares of common stock. Goldman Sachs provided financial advice to Buffalo Wild Wings, while Faegre Baker Daniels was its legal counsel.
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Under the terms, Buffalo Wild Wings will become a closely held subsidiary of Arby's and will continue to operate as an independent brand, the companies said. Oppenheimer reissued a "buy" rating and issued a $135.00 price objective on shares of Buffalo Wild Wings in a research report on Friday, September 15th.
Buffalo Wild Wings, Inc is the owner, operator and franchisor of restaurants. Following the completion of the transaction, the chief executive officer now directly owns 46,073 shares of the company's stock, valued at approximately $6,910,950. Flinton Capital Management LLC acquired a new stake in shares of Buffalo Wild Wings during the fourth quarter worth about $138,000. The company has a market cap of $2,270.00, a PE ratio of 33.68, a P/E/G ratio of 1.79 and a beta of 0.79. In the most recent quarter, it reported a 2.3 percent sales drop at its established restaurants. 5,604,487 shares of the stock were exchanged, compared to its average volume of 544,118. Buffalo Wild Wings (NASDAQ:BWLD) last issued its earnings results on Wednesday, April 26th. Public Employees Retirement System of OH now owns 765 shares of the restaurant operator's stock worth $117,000 after purchasing an additional 75 shares during the period. The Company's restaurants offer 20 to 40 domestic and imported beers on tap, including craft brews, and a selection of bottled beers, wines and liquor.

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