January 20, 2026, Nathan’s entered into an Agreement and Plan of Merger with Smithfield Foods, Inc.  and Boardwalk Merger Sub Inc. under which Smithfield Foods will acquire Nathan’s for $102.00 in cash per share of Nathan’s common stock for a total enterprise value of approximately $450 million, and Nathan’s will become a privately-held company. The closing of the transaction is expected to occur in the first half of 2026.

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