Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
Oil Prices Slip as Iran Talks and Strong Supply Outlook Ease Market Concerns 
Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
Jack in the Box has acquired Del Taco Restaurants for $455.3 million. The deal is a strategic decision as the fast-food restaurant company is looking to expand its customer base and capitalize on the Mexican fast-food chain's strong drive-thru foothold.
As per Reuters, Jack in the Box and Del Taco Restaurant agreed to a deal where the former will pay $12.51 in cash for each of the latter’s shares. The share is a premium of more than 66% to its closing price on Dec. 3. It was reported that the total value of the acquisition deal is around $575 million since the debt has been added as well.
With the addition of Del Taco to its portfolio, Jack in the Box has further expanded its restaurant business. To date, it has over 2,800 restaurants located in 25 states. Almost all of the Mexican restaurant’s outlets have drive-thrus, and Jack in the Box is expecting to benefit from this greatly.
The San Diego, California-headquartered fast-food chain further said it also expects its acquisition of Del Taco will immediately bring in profits to instantly boost the company’s earnings. For the transactions, Piper Sandler & Co. is serving as Del Taco’s adviser, while Jack in the Box is being advised by BofA Securities.
“We are thrilled to welcome Del Taco, a beloved brand and proven regional winner, to the Jack in the Box family. This is a natural combination of two like-minded, challenger brands with outstanding growth opportunities,” Jack in the Box’s chief executive officer, Darin Harris, said in a press release.
The CEO added, “Together, Jack in the Box and Del Taco will benefit from a stronger financial model, gaining greater scale to invest in digital and technology capabilities and unit growth for both brands. This acquisition fits squarely in our strategic pillars and helps us create new opportunities for the franchisees, team members, and guests of both brands.”
On the other hand, Del Taco’s CEO, John D. Cappasola, Jr., said their team is excited to partner with Jack in the Box that has a similar vision for the future as theirs. The chief also said they believe the company’s expertise in the restaurant business will further accelerate Del Taco’s growth.
