CKE Restaurants Agrees to Repurchase Pirate Capital's Remaining 6.1% Stake

CKE Restaurants, Inc. (CKR) entered into a Stock Purchase Agreement with Pirate Capital, LLC, to repurchase 4,073,239 shares of the Company's common stock, or approximately 6.1% of its total shares outstanding as of April 3, 2007.

Pirate Capital has represented to the Company that it will not own any shares of the Company's common stock following the transaction.

Pirate has been liquidating its position in CKR since Fall 2006.

CKR 1-yr chart