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Wichita, Kan.--Fox & Hound Restaurant Group, operator of 82 restaurants under the Fox and Hound and Bailey's brands, said Monday two shareholders that had offered last week to acquire the company for $14.75 per share had reduced their offer to $14.50 a share.(JUST IN)
WICHITA, Kan. -- FOX & HOUND RESTAURANT GROUP, operator of 82 restaurants under the Fox and Hound and Bailey's brands, said Monday two shareholders that had offered last week to acquire the company for $14.75 per share had reduced their offer to $14.50 a share. Based on the company's 10 million shares outstanding, the deal would be worth $145 million, a premium over its market capitalization of $138.7 million as of Monday's close on the Nasdaq exchange. In a statement, F&H ACQUISITION CORP.--owned and created by the two shareholders, private equity firms NEWCASTLE PARTNERS LP and STEEL PARTNERS II LP-- said the lower offer resulted from its …
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