Rubio's Restaurants rejects takeover offer (Dealscape

Mexican-themed casual dining chain Rubio's Restaurants Inc. said late Thursday, Oct. 29, it rejected an $80 million buyout offer from shareholder Alex Meruelo and private equity firm Levine Leichtman Capital Partners. Rubio's board said the $8 per share bid, announced Oct. 14, was not in the best interest of its stockholders.

As a result, the chain hired Cowen and Co. LLC to explore strategic alternatives, including a review of expressions of interest that it had already received. B. Riley & Co. LLC analyst Ian Corydon valued the offer at 5.6 times Ebitda.

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NOT A SUBSCRIBER? Rubio's Restaurants rejects takeover offer Posted on October 30, 2009 2:30 PM Mexican-themed casual dining chain Rubio's Restaurants Inc. said late Thursday, Oct. 29, it rejected an $80 million buyout offer from shareholder Alex Meruelo and private equity firm Levine Leichtman Capital Partners. Rubio's board said the $8 per share bid, announced Oct. 14, was not in the best interest of its stockholders. As a result, the chain hired Cowen and Co. LLC to explore strategic alternatives, including a review of expressions of interest that it had already received. B. Riley & Co. LLC analyst Ian Corydon valued the offer at 5.6 times Ebitda. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 298 compay pages related to Restaurants 258 in-depth reports of Auctions in the Food sector 20 articles related to Rubio's Restaurants Inc. 19 in-depth transaction records for Levine Leichtman Capital Partners 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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