Private-equity firm Roark Capital is near a deal to buy the Subway sandwich-shop chain for about $9.6B and an agreement could be finalized this week after “a long, heated auction,” people familiar with the matter told The Wall Street Journal’s Laura Cooper, Dana Cimilluca, Ben Dummett and Lauren Thomas. Publicly traded restaurant operating companies 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.
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