Friendly's To be Acquired for $15.50 a Share in Cash
Read the full article at: http://www.gannononinvesting.com/2007/06/friendlys_to_be_acquired_for_1.html
Submitted by Geoff on Mon, 2007-06-18 15:41.
(via www.gannononinvesting.com)
"Friendly Ice Cream Corporation (FRN) has agreed to be acquired by an affiliate of Sun Capital Partners for $15.50 per share in cash." This looks like the end of the battle over Friendly's. It's a big win for Sardar Biglari and his Lion Fund. The biggest winner may be tiny Western Sizzlin (WSZL), also run by Biglari, because of the size of its Friendly's stake relative to its own market cap.
