Arby's buying Buffalo Wild Wings for close to $2.4 billion

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NEW YORK (AP) — Arby's is buying Buffalo Wild Wings for about $2.4 billion, making it the latest casual restaurant chain to be taken private.

Buffalo Wild Wings, which serves chicken wings in a sports bar-like atmosphere, has reported falling sales as it and other casual restaurants lose customers to cheaper and faster chains.

In the most recent quarter, it reported a 2.3 percent sales drop at its established restaurants.

Last month, struggling sit-down chain Ruby Tuesday agreed to be sold for $146 million and taken private.