Panera Bread Shares Hit All-Time High After Sale Rumor Surfaces

Shares of Panera Bread had quite the exciting day on Monday, so exciting that trading was even briefly halted for the stock. This wasn’t before shares saw a 7% spike however.

As soon as trading was resumed, Panera shares hit an all-time high of $292.42.

Apparently a report was released on Monday that said the chain may be exploring a possible sale and had been receiving takeover interest.

According to Bloomberg, sources close to Panera said the restaurant was working with advisors to look over strategic options.

Chief Financial Officer Michael Bufano told CNBC: “As a matter of policy, we never comment on rumors or speculation.”
Since January of this year, shares of Panera have climbed more than 39%!

The healthy restaurant chain has made a name for itself with being known for not using artificial additives and preservatives in its food.

Just last month Panera also announced that it’s soft drinks would post caloric and sugar information for its customers.

It’s already been an exciting year for restaurant takeovers. Not long ago, Popeyes Louisiana Kitchen was purchased by Restaurant Brands International, the company that owns Burger King, for $1.8 billion.

Disclaimer: We have no position in Panera Bread Co (NASDAQ: PNRA) Restaurant Brands International Inc. (NYSE: QSR) and have not been compensated for this article.