CKR Shareholders Approve Buyout via Record Votes
Today, the CKR shareholders, the holding company of Hardee's and Carl's Jr, approved a $12.55 buyout from the Apollo Private Equity Group.
The vote, this morning was approved via a 99 to 1 ratio yes vote, in a record short 15 minute meeting.
Puzder noted he expected "not much" will change on a day to day basis for employees, franchisees and other stakeholders. He noted the reason for the merger was that they thought they could do better for shareholders than the $ 8 to $9 range the stock was stuck, and noted the fear of an economic double dip which could depress the stock shares again.
CKR has traditionally disclosed little in terms of franchisor/franchisee matters, and now disappears (for now) as a publicly traded company. An analytical piece will follow later.
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