REPORT: Panera is looking to sell itself and its stock is soaring (PNRA)

The cafe and bakery chain Panera Bread Co. has received takeover interest and is considering selling itself, Bloomberg's Ed Hammond reports.The stock jumped more than 7% on the news.Panera's market cap was about $6 billion before the news broke.The news follows a recent uptick in retail merger and acquisition activity.Burger King-owner Restaurant Brands International in Februaryannounced it was buying Popeyes for $1.8 billion, while Kraft-Heinz recently made and then withdrew a bid for Unilever.Panera has recently doubleddown on its commitment to "clean" foods, made without artificial ingredients or additives.In January, the chain achieved its goal ofcutting all 96 additives and ingredients the company identified on its "No No List" two years ago. Last week,Panera announced it would begin listing the amount of added sugars in its fountain drinks, making it the first national chain to do so.The fast casual chain has also made significant investments in technology in recent years. Last year, the chain completed the roll out ofPanera 2.0, a tech initiative that built the chain's digital ordering system for Panera's app and in-store kiosks.More to come...SEE ALSO:Unilever is reportedly looking at selling some of its food brands for $7.44 billionJoin the conversation about this storyNOW WATCH: Here's which countries have the most billionaires
Click here to read full news..