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Durational Capital Management and The Jordan Company to buy Bojangles' for $594 million

Bojangles
Acquisition   Bojangles’ stockholders will receive $16.10 per share

Bojangles’ announced that it has entered into a definitive agreement to be acquired by Durational Capital Management and The Jordan Company.


Under the terms of the agreement, Durational Capital Management and The Jordan Company will acquire the company in an all cash transaction. Bojangles’ stockholders will receive $16.10 per share, representing a 39% premium to the closing share price of February 12, 2018, a day prior to initial speculation regarding a potential transaction involving Bojangles' and a premium of approximately 30% to the 90-day volume weighted average price ending on February 12, 2018.

The offer represents a 15% premium to the closing share price of September 27, 2018, a day prior to a published report that Bojangles’ is exploring strategic alternatives.

 

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