Subway Pushes Bidding Deadline Again After Failing To Get $10B: Report

MILFORD, CT — Subway, one of the nation's largest fast-food chains, has pushed back its bidding deadline from last week to next month after failing to get the $10 billion dollars minimum the company is seeking in its sale, sources told The New York Post.

The Wall Street Journal reported in January about the privately-owned company's potential sale and its possible value of more than $10 billion.

As of May, bids for the chain had ranged between $8.5 billion and $10 billion, a source told Reuters.

Subway first announced it was considering a possible sale of the company in February and that J.P. Morgan would be its advisor.

Subway is based in Milford, but plans to move its headquarters to Shelton this fall, the Shelton Herald reported in June.

Some of the company's consumer-facing departments moved to Miami in 2021.