Inspire Brands Buys Sonic Burger Chain For $2.3 Billion

ATLANTA (AP) — Arby’s owner Inspire Brands is buying the Sonic drive-in hamburger chain.
Inspire is paying $43.50 per share cash, or $2.3 billion, for Sonic. Inspire expects the deal to close by the end of this year.
Sonic will operate as a separate business unit within Inspire and remain based in Oklahoma City. The first Sonic opened in Oklahoma in 1953.
(credit: Sonic)
Inspire says Sonic’s management team will also remain in place.
Sonic earned $63.7 million in its 2017 fisca