Aug. 22, 2012, 7:02 AM
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May. 22, 2012, 9:05 AM
May. 22, 2012, 9:01 AMShares of Benihana (BNHN) come off a trading halt to move up 21.3% premarket after receiving a go-private offer from Angelo, Gordon & Co. Following P.F. Chang's China Bisto own rocket ride after going private earlier this month, a number of other similar-sized restaurant sector names could be on watch. KONA, CHUX, BHRI, TXRH, CASA. | 1 Comment
May. 22, 2012, 8:27 AMBenihana (BNHN) will go private, agreeing to be acquired by Angelo, Gordon & Co.'s Private Equity Group for ~$296M; the $16.30/share price represents a premium of 46% over the average closing price for the 30 days ended March 13, 2012, when BNHN announced it was exploring strategic alternatives. Trading halted. | Comment!
Mar. 22, 2012, 12:23 PMRoth Capital says Benihana (BNHN +1.9%) could draw takeover offers after its board announced earlier this month that it would explore strategic alternatives. Roth believes that private equity firms as well as the company's management are lining up to potentially submit takeover bids. The firm increases its price target to $17.30 from $15 and reiterates a Buy rating. | Comment!
Mar. 21, 2012, 9:56 AMRestaurant chain Benihana (BNHN), working with Jefferies to explore a possible sale, would make for the industry’s most expensive takeover above $200M since before the recession, Bloomberg calculates. But BNHN is cheaper than nearly all its peers relative to the cash it generates, and operating margins leave room for improvement under new management. | Comment!
Mar. 13, 2012, 3:50 PM
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