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Now that news has officially broken that Popeyes has been acquired, investors are asking, "Should I buy Popeyes stock?"
Popeyes Louisiana Kitchen Inc. (Nasdaq: PLKI) stock is up 19% today (Tuesday) after Burger King's parent company, Restaurant Brands International Inc. (NYSE: QSR), announced it will buy the fast-food chicken company.
RBI announced it will buy Popeyes for $79 per share this morning. The price is a 27% premium on the 30-day average of Popeyes stock ending Feb. 10. The deal is worth $1.8 billion and will be financed with cash on hand along with loans from JPMorgan and Wells Fargo.
The deal between Popeyes and RBI is expected to close in early April.
So is this the time to buy into Popeyes stock now that it's soaring? Here's how to handle Popeyes stock today…