'Jersey Mike's Subs Considers Sale, Could Fetch About $8B; Sandwich Chain Has Held Talks With Blackstone, Sources Say' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Jersey Mike's Subs is exploring a sale that could value the company at around $8 billion. The sandwich chain has engaged in discussions with Blackstone (BX) among other potential buyers, according to sources cited by the Wall Street Journal.
April 05, 2024 | 3:47 pm
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Blackstone (BX) is in talks with Jersey Mike's Subs for a potential acquisition, valuing the sandwich chain at about $8 billion.
The news of Blackstone (BX) engaging in talks for a potential acquisition of Jersey Mike's Subs, a deal valued at about $8 billion, is significant. This acquisition could enhance Blackstone's portfolio in the consumer sector, signaling growth and expansion. The high valuation of the deal suggests a positive outlook on Jersey Mike's business and future profitability, which could be seen as a positive move for BX's stock in the short term. However, the final impact would depend on the deal's terms, financing, and how it aligns with Blackstone's strategic goals.
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