Checkers Drive-Ins To Go Private

TAMPA, FL - Checkers Drive-In Restaurants (NASDAQ:CHKR), today announced that its public shares will be bought back to make the firm private. Checkers shareholders supported a merger with Taxi Holdings Corp, an affilliate of Wellspring Capital Management LLC, a private equity firm.

 "We are pleased the shareholders agreed that this transaction offers the best opportunity to maximize value," said Keith E. Sirois, President and CEO of Checkers Drive-In Restaurants, Inc. "We look forward to the strategic and financial benefits that private ownership with Wellspring will offer to the Checkers/Rally's system."

The Company will cease to be listed on the Nasdaq or on any other public exchange once the merger is completed.

Source: PR Newswire