Benihana shares climb on buyout report
Tuesday, March 30th, 2010 at
9:53 pm
Shares of restaurant chain Benihana Inc. climbed Tuesday amid speculation that a financier submitted a sweetened buyout offer to the company.
Citing anonymous people, the New York Post reported Tuesday that Russell Glass, who leads RDG Capital, increased his bid for the Asian-themed chain to $8 per share, up from his earlier offer of $7 per share.
CL King analyst Michael W. Gallo told investors in a research note that the $8 offer may still be low “but is moving in the right direction.”
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