Tuesday, May 22, 2012

Benihana (Nasdaq: BNHN) to go private in $296 mln deal

Benihana (Nasdaq: BNHN) to go private in $296 mln dealOrlando, FL 5/22/12 (StreetBeat) -- Japanese-style restaurant chain Benihana Inc (Nasdaq: BNHN) said it will be taken private by private equity group Angelo Gordon & Co in a deal valued at about $296 million.

Under the agreement, the private equity firm will pay Benihana shareholders $16.30 per share, a 23 percent premium to the stock's close on Monday.

Earlier this year, the company had said it was exploring strategic alternatives, including a possible sale.

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