Jack in the Box Jumps After Report It's Considering a Sale

(Bloomberg) -- Jack in the Box Inc. shares jumped as much as 7.3 percent after Reuters reported it’s exploring options that could include a sale of the company.

The fast-food chain began talks with potential buyers, including private equity firms, this month and there’s no certainty a deal will be reached, Reuters reported, citing unidentified people familiar with the situation.

Jack in the Box declined to comment. The San Diego-based company is in the midst of a dispute with franchisees, who have called for the ouster of Chief Executive Officer Lenny Comma because of weak sales. The company’s revenue has slumped in recent quarters as its competitors tout discounts to get diners in the door.

The stock rose to as high as $89.72 on Thursday, the highest intraday level in nearly three months.

To contact the reporters on this story: Jonathan Roeder in Chicago at jroeder@bloomberg.net;Leslie Patton in Chicago at lpatton5@bloomberg.net

To contact the editor responsible for this story: Anne Riley Moffat at ariley17@bloomberg.net

©2018 Bloomberg L.P.