Sandwich chain Subway to sell itself for $9.55 billion

Subway would sell itself to private equity Roark Capital for $9.55 billion after agreeing to attach conditions to some of the windfall the two families that own it will get, sources said, ending a long-drawn auction that saw several competing bids.These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said.

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