Benihana to Be Acquired by Angelo, Gordon & Co.'s Private Equity Group for $296 Million
Stockholders to Receive $16.30 Per Share in Cash in Successful Conclusion to Strategic Review
Benihana Inc. (BNHN) ("Benihana" or the "Company"), operator of the nation's largest chain of Japanese theme and sushi restaurants, today announced that it has entered into a definitive merger agreement with funds advised by Angelo, Gordon & Co.'s ("Angelo Gordon") Private Equity Group in a transaction valued at approximately $296 million.
Under the terms of the merger agreement, which has been approved by the Company's Board of Directors, Angelo Gordon will acquire all of the outstanding shares of Benihana's common stock for $16.30 per share in cash.
- Published: 22 May 2012
- Written by Editor