ARBY’S PAR­ENT COM­PANY BUYS SONIC FOR $2.3 BIL­LION

USA TODAY Weekend Extra - - NEWS -

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. Sonic share­hold­ers ap­proved the pend­ing agree­ment with In­spire Brands Inc. on Thurs­day. The com­pany’s in­vestors voted on two pro­pos­als, one to au­tho­rize the merger and the other to com­pen­sate Sonic’s ex­ec­u­tive of­fi­cers. Share­hold­ers will be paid $43.50 per share in cash. Sonic will no longer be traded pub­licly.

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