Food and Beverage
CKE Restaurants Agrees to Apollo Bid
Stock quotes in this article:CKR
CARPINTERIA, Calif. (TheStreet) -- CKE Restaurants(CKR) has agreed to be taken over by private-equity firm Apollo Management for $12.55 a share in cash.
CKE Restaurants, which owns the Hardee's and Carl's Jr. hamburger chains, announced it had accepted Apollo's $694 million bid in a news release Saturday. The company added that it was terminating its earlier merger agreement with Thomas H. Lee Partners. Earlier this month, Apollo Management challenged Thomas H. Lee's bid. Shares of CKE Restaurants lost 2 cents Friday to close at $12.85. > > Bull or Bear? Vote in Our PollTheStreet Premium Services
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