BUZZ-MTY Food Group Inc: Record high on Kahala Brands buy

Wed May 25, 2016 11:18am EDT
 
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** Canadian restaurant operator's shares up 18.7 pct at C$42.35; climbs as much as 30 pct to new high of C$46.25

** Agrees to buy Scottsdale, Arizona-based fast-food restaurants operator Kahala Brands Ltd for about $300 mln, to expand in U.S. and Canada

** To issue 2.3 mln of shares and pay $240 mln in cash

** Kahala franchises and operates about 2,800 stores worldwide and generates annual system sales of over C$950 mln, MTY says

** More than 175,500 shares traded, nearly 14x their 30-day moving average

** Up to Tuesday's close, MYT's stock had risen 10 pct this year