Bojangles' to acquire for $ 16.10 per share

Bojangles & Inc.

BOJA, + 0.20%

entered into an agreement to acquire the investment companies Durational Capital Management LP and The Jordan Company LP, as part of a fully cash transaction. Shareholders in the restaurant chain will receive $ 16.10 per share, a premium of 39% over the closing price on February 12, a day before speculation on a transaction. This is a premium of 16% over the closing price of September 27, a day before the publication of a report that Bojangles was exploring strategic alternatives. Bojangles will continue as a privately owned, privately owned company based in Charlotte, North Carolina. The company will no longer hold its third quarter fiscal results call on Nov. 4, but will issue a news release after the close of trading on Nov. 8. Shares were halted for the new, but gained 36% in 2018, while the S & P 500

SPX, + 0.01%

gained 2.4%.

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