Driven Brands rejects ADW Capital’s USD 18-per-share takeover proposal
DRVN•Driven Brands rejects unsolicited takeover offer
- Driven Brands rejected ADW Capital’s unsolicited proposal to acquire the company for USD 18 per share in cash.
- The board called the approach non-binding and highly conditional, citing a lack of a credible basis to proceed.
- Directors said the offer materially undervalued Driven Brands given its long-term value creation opportunities.
