Photo: Ethan Miller/Getty Images for Vegas Uncork’d by Bon Appétit

Lion Capital has acquired a 50% stake in the North American restaurant business of British chef Gordon Ramsay. The deal is worth $25 million, with Lion also agreeing to invest $100 million over the next five years to help Ramsey open 100 new U.S. spots over the next five years.

Why it matters: It reflects how private equity keeps plowing money into restaurants, including earlier this week, even though they are a notoriously difficult business. Just last month, Ramsay rival Jamie Oliver said he'd close all but three of his 25 locations in the U.K.

The bottom line: "Ramsay already has eight restaurants across Las Vegas, Atlantic City and Baltimore, in partnership with Caesars Entertainment. There’s five concepts in Las Vegas, of which three are brands that will be expanded through the new deal. " — Chloe Sorvino, Forbes.

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41 mins ago - World

Countries waiting to see if Trump wins before moving on Israel normalization

The delegation lands at Israel's Ben Gurion airport. Photo: Jack Guez/AFP via Getty

The White House is attempting to leverage momentum from Israel's normalization deals with Bahrain and the UAE to get more Arab countries on board before the U.S. election.

Driving the news: President Trump wants Sudan's removal from the U.S. state sponsors of terrorism list to be accompanied by a pre-election announcement on Israel.

Poll: 92% of battleground state voters are "extremely motivated to vote"

Voters stand in line at the Metropolitan Multi-Services Center in Houston, Texas, on Oct. 13. Photo: Mark Felix for The Washington Post via Getty Images

91% of likely voters nationally say they are "extremely motivated to vote," including 92% in battleground states Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin, according to a Change Research/CNBC Poll.

Why it matters: The 2020 election could see record-breaking levels of voter turnout. Voters last week cast ballots at nearly five times the rate they did at this point in the 2016 election, per the U.S. Elections Project. Over 39 million ballots have been cast in early voting states as of Wednesday.

Caitlin Owens, author of Vitals
2 hours ago - Health

OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges

Members of P.A.I.N. (Prescription Addiction Intervention Now) and Truth Pharm staged a rally and die-in last year outside New Yorks Southern District Federal Court in White Plains, where Purdue Pharmaceuticals' bankruptcy hearing was being held. Photo: Erik McGregor/LightRocket via Getty Images

Purdue Pharma, the maker of OxyContin, will plead guilty to three federal criminal charges Wednesday as part of a more than $8 billion settlement with the Justice Department, AP reports.

Why it matters: "The settlement is the highest-profile display yet of the federal government seeking to hold a major drugmaker responsible for an opioid addiction and overdose crisis linked to more than 470,000 deaths in the country since 2000," AP notes.