Why Popeyes Louisiana Kitchen Inc. Stock Jumped 25% in February [The Motley Fool]
POPEYES LOUISIANA KITCHEN (PLKI)
US:NASDAQ Investor Relations:
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Source: The Motley Fool
The popular fast-food chain is being swallowed by an even larger competitor. Here's what investors need to know now. What happened Shares of Popeyes Louisiana Kitchen Inc. ( NASDAQ:PLKI ) skyrocketed 25% in the month of February, according to data provided by S&P Global Market Intelligence , after the chickencentric fast-food chain announced it will be acquired by Burger King and Tim Hortons parent company, Restaurant Brands International ( NYSE:QSR ) . So what Popeyes' climb last month actually came in two chunks. First, shares briefly spiked as much as 14% on February 13, 2017, after Reuters reported that Restaurant Brands International had approached the smaller company about striking a deal. But Popeyes stock gave up most of those gains as the market digested the caveat from Reuters' sources that the two companies had yet to agree on a price, as well as the fact "there [was] no certainty that negotiations [would] continue." IMAGE SOURCE: POPE
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