Lone Star Steakhouse to Give Stakeholder Barington Capital a Peek at Its Books

| About: Starent Networks (STAR-OLD)

In an amended 13D filing on Lone Star Steakhouse & Saloon Inc. (STAR-OLD) large holder Barington Capital disclosed they entered into a confidentiality agreement with the company permitting them to obtain certain confidential or non-public information in order to evaluate its position related to the new $27.35 per share offer from Lone Star Funds. The offer was recently raised from $27.10.

Barington Capital and other dissident shareholders have opposed the merger since it was announced. In the past, Barington said it has identified five parties that may be interested in purchasing the Company at a price higher than $27.10 per share if they are given the opportunity to review the Company’s non-public information.

Recently, Lone Star adjourned the meeting of shareholders to vote on the proposed merger from November 30th to December 12.

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