More than 10 possible suitors, "including some big names in private equity," are conducting due diligence on Subway as the sandwich chain heads toward a second round of bidding, people familiar with the matter told The Wall Street Journal’s Lauren Thomas and Heather Haddon. Final bids will likely be due around the end of this month and a buyer could emerge by the end of May, added the report, which said Subway is aiming for a valuation of $10B or more. Publicly traded restaurant names that rival Subway in terms of units include McDonald’s (MCD), Starbucks (SBUX), Yum! Brands (YUM), Wendy’s (WEN) and Restaurant Brands’ (QSR) Burger King. Publicly traded private equity companies include Apollo Global (APO), Carlyle Group (CG) and KKR (KKR). Reference Link
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