RESTAURANTS: Arby’s parent company acquires Sonic chain
Shareholders have approved the sale of Oklahoma-based drive-in burger chain Sonic to the parent company of Arby’s in a $2.3 billion merger. The Journal Record, of Oklahoma City, reports that Sonic shareholders approved the pending agreement with Inspire Brands Inc. on Thursday. The company’s investors voted on two proposals. The first was to authorize the merger and the other was to compensate Sonic’s executive officers in connection with the merger. Sonic will no longer be traded publicly.