Roark Capital is nearing a deal to buy the Subway sandwich-shop chain for about $9.6 billion.
After a long, heated auction, a deal for the closely held company could be finalized this week, people familiar with the matter said. Roark has been battling it out with a group of rival private-equity firms including TDR and Sycamore, and in recent days pulled ahead.
It is still possible the other group could come back with a higher offer and prevail.
Read the full story on The Wall Street Journal here.