NEW YORK (
California Pizza Kitchen
has agreed to sell itself to private-equity firm Golden Gate Capital for about $470 million,
The Wall Street Journal
The deal values California Pizza Kitchen at $18.50 a share. The stock was rising 1.1% in premarket trading Wednesday to $16.89.
The offer price is a premium of about 11% to California Pizza's closing price of $16.71 on Tuesday.
The pizza chain last spring hired an investment bank to explore a potential sale.
-- Written by Joseph Woelfel
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