Foodtastic offers $982 million to acquire MTY Food Group

Offer per MTY share, in cash

43 $

The restaurant franchisor is bidding $43 a share in cash. MTY shares closed Monday at $32.75 on the Toronto Stock Exchange.

Foodtastic says it first made the offer last month, was rebuffed and went public.

Also announced

MTY also named board member Victor Mandel chief executive, effective immediately, replacing Eric Lefebvre.