(From AFX Europe (Focus))
NEW YORK (AFX) - A large shareholder of restaurant chain Lone Star Steakhouse & Saloon Inc. on Wednesday said a private-equity firm's $600 million takeover bid undervalues the company.
Lone Star -- which operates casual and upscale dining chains including Lone Steakhouse, Sullivan's and Del Frisco -- agreed earlier this month to be acquired by affiliates of Dallas-based private equity firm Lone Star Funds.
The acquisition offer of $27.10 per share represents a 15 percent premium to Lone Star Steakhouse's closing stock price on Aug. 17, the day before the deal was announced.
Barington Capital Group LP, which owns a …