Asian Markets Retreat as Gulf Crisis Fuels Oil Surge and Inflation Fears 
U.S. Inflation Surges in March as Iran War and Tariffs Drive Prices Higher 
Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates 
China's Inflation Data Misses Forecasts as Consumer Prices Slow in March 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
U.S. Futures Slip as Iran Ceasefire Uncertainty and CPI Data Weigh on Markets 
FedEx Pilots and Union Reach Tentative Agreement on 40% Pay Increase 
Trump Claims Oil Tankers Heading to U.S. Amid Iran War and Strait of Hormuz Crisis 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
Dollar Stabilizes Amid Fragile US-Iran Ceasefire as Markets Watch Hormuz Strait 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
U.S. Natural Gas Market Faces Short-Term Pressure but Long-Term Demand Surge 
San Francisco Suspect Arrested After Molotov Cocktail Attack on OpenAI CEO Sam Altman's Home 
Pony.ai, Uber, and Verne Launch Europe's First Commercial Robotaxi Service in Zagreb 
OpenAI Addresses Security Vulnerability in macOS App Certification Process 
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.
