Sandwich chain Subway has retained advisers to explore a sale of the closely held company, according to people familiar with the situation.
The process, which is in the early stages, is expected to attract potential corporate buyers and private-equity firms, and could value Subway at more than $10 billion, the people said. Still, it is possible there won’t be a sale or other deal. …
Milford, Conn.-based Subway, known for its foot-long sandwiches and quick-service restaurants, has been owned by its two founding families for more than five decades.
[Wall Street would lick its chops at such an opportunity, and not just because of the cold-cut selections. Mergers and acquisitions have dropped significantly over the last few years. This might spark more deals if it comes off well for Subway’s current owners/founders. — Ed]
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