USA: CKE agrees on stock transaction buyout of Santa Barbara Restaurant Group
Santa Barbara, California-based CKE Restaurants Inc. has signed a letter of intent to buy out the Santa Barbara Restaurant Group , a deal it hopes to close by the end of March next year. The agreed deal, which is still subject to due diligence, regulatory approvals and votes by both companies' shareholders, will involve a stock transaction that will convert every Santa Barbara share into a half a CKE common share.
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