It’s official: Applebee’s is now part of IHOP

GLENDALE Calif. IHOP Corp. said Thursday that it has completed its acquisition of Applebee’s International Inc. for $25.50 per share in cash, or about $1.9 billion. The total value of the transaction comes to about $2.3 billion because of the assumption of Applebee’s debt and the transaction fees IHOP will pay.

 

As previously reported, IHOP plans to sell most of Applebee’s company-run restaurants to franchisees, cut costs and comp

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