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

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Staff Writer | Wednesday November 7, 2018 7:05AM ET
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.


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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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