US convenience store operator RaceTrac has agreed to buy compatriot Potbelly, a sandwich chain, in a $566m deal. RaceTrac will make a tender offer to purchase all outstanding shares of Potbelly at$17.12 each. The offer price reflects a premium of 47% based on Potbelly’s 90-day volume-weighted average price as of 9 September 2025. Potbelly’s board of directors has unanimously recommended shareholders to tender their shares, and company directors and executive officers, whose shares constitute around 11% ...