CKE Restaurants says buyout to close Monday
Carpinteria, Calif. CKE Restaurants, which runs the Carl's Jr. and Hardee's chains, said its acquisition by a private equity firm will be completed Monday.
The company agreed to a $694 million offer in May from Columbia Lake Acquisition Holdings, an affiliate of Apollo Management VII LP.
That amounts to $12.55 per share. On Wednesday company shares were flat at $12.53.
The fast-food industry and CKE have had a difficult time pulling in consumers during the recession, with so many people eating at home or out of work.
CKE Restaurants operates and franchises 3,141 restaurants in 42 states.