P.F. Chang's going private in $1.1 bln buyout NE
Post# of 102233
Posted On: 05/01/2012 7:55:18 AM
P.F. Chang's going private in $1.1 bln buyout
NEW YORK (MarketWatch) -- P.F. Chang's China Bistro Inc. (NASDAQ
FCB) said Tuesday it agreed to be acquired for $51.50 a share in cash by Centerbridge Partners L.P. in a deal valued at $1.1 billion. The Scottsdale, Ariz., restaurant chain will become a private company after the deal closes. The price values P.F. Chang's at a premium of 30% over its Monday closing price of $39.69 a share.
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