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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, which has 3,600 restaurants in the U. S. 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. Inspire says Sonic's management team will also remain in place. Sonic earned $63. 7 million in its...

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