CKE may have better offer
Written on April 10, 2010
The operator of St. Louis-based Hardee’s restaurants said Wednesday that it may have received a better takeover offer than the one it already has from a private equity firm.
CKE Restaurants Inc. said an unnamed party submitted a bid that may be superior to its current deal with Thomas H. Lee Partners, a Boston firm that’s among a trio of investment firms that bought Dunkin’ Brands Inc. in 2006.
CKE accepted Lee’s offer in February, which includes about $619 million in cash and approximately $309 million in debt. CKE did not disclose many specifics about the new proposal, but said it could keep talking with the bidder until April 27 because of terms in the agreement with Thomas H. Lee.
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