Priceline Buying OpenTable and More Industry News

A roundup of this week’s food industry financial news
Priceline, the online travel booking website, is buying OpenTable for $2.6 billion.

This week in industry news, Priceline is buying OpenTable for $2.6 billion, Luby’s profit fell 29.7 percent in the third quarter, and Panera Bread secures a $100 million loan.

Read on for more of this week's biggest financial news in the world of food.

Earnings

Luby's Inc.: The company’s profit fell 29.7 percent in the third quarter.

McDonald’s Corp.: For May, McDonald’s global same-store sales rose 0.9 percent.

 

Mergers/Acquisitions

Open Table: Priceline is buying OpenTable for $2.6 billion.

P.F. Chang's China Bistro Inc.: The company agreed to a $1 billion acquisition by Centerbridge Partners, L.P.

 

More Financial News

POM Wonderful, L.L.C. vs Coca-Cola Co.: The Supreme Court ruled in favor of POM Juice after POM Juice sued Coca-Cola claiming that Coca-Cola’s Minute Maid “Pomegranate Blueberry” drink contains very little pomegranate or blueberry juice.

Photo Credit: Flickr/Mike Mozart

Panera Bread Co.: The company secured a $100 million loan from Bank of America, Wells Fargo, and TD Bank for general corporate funds, including growth initiatives.

 

Have the inside scoop on a merger or acquisition? Know of a new advertising campaign around a new iconic product? We’re always looking to get ahead of the game, so email us your tips.

Haley Willard is The Daily Meal's assistant editor. Follow her on Twitter @haleywillrd.

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