Shares of Dunkin Brands (DNKN) closed down by 2.98% to $52.16 on heavy trading volume on Wednesday, after it was disclosed that investment company JAB is acquiring U.S. bakery/cafe chain Panera Bread (PNRA) for $7.5 billion.
It had been rumored recently that the firm, which invests in coffee and breakfast businesses, would be pursuing an acquisition of the Dunkin Donuts parent.
Separately, Dunkin Brands said today that it will open up 12 new restaurants in North Carolina. The company is working toward its long term goal of developing 17,000 Dunkin Donuts' locations in the U.S.
This article has been updated from its original publish time of 9:12 a.m.