November 6, 2018 / 1:15 PM / 10 days ago

Fast food chain Bojangles to be taken private for $593 million

Nov 6 (Reuters) - Fast food chain Bojangles Inc said on Tuesday it would be taken private by investment firms Durational Capital Management LP and Jordan Co for $593.7 million.

Bojangles shareholders will receive $16.10 in cash for each share they hold, representing a 15 percent premium to the stock’s price in September, before Reuters reported that the company was exploring alternatives including a sale.

Based on Monday’s closing price, the per-share acquisition price represents a premium of 0.6 percent. (Reporting by Aishwarya Venugopal in Bengaluru Editing by Sai Sachin Ravikumar)

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