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% ...

Jeremy Hamblin from Craig-Hallum set a price target of $17.12 for Potbelly Corporation (NASDAQ:PBPB), indicating a slight potential increase from its current price.RaceTrac's acquisition of Potbelly for $566 million marks its entry into the restaurant industry, aiming to expand its food service offerings.Following the acquisition announcement, Potbelly's stock surged by over 30%, reflecting investor optimism towards the deal.On September 10, 2025, Jeremy Hamblin from Craig-Hallum set a price target of $17.1 ...