U.S. restaurant chain Landry's Inc is ready to purchase Ark Restaurants Corp for $22 per share and is willing to meet with the company's board of directors to negotiate a deal, it said late on Wednesday. Based on 3.24 million shares outstanding, as per Thomson Reuters data, the offer would value Ark Restaurants at about $71.3 million.Landry's per share offer is a 22 percent premium to Ark's closing price of $18.04 Wednesday on the Nasdaq.Landry's said the proposal was not subject to any financing contingency."We stand ready to meet with the Board of Directors and its representatives as soon as possible in order to proceed," Landry's said in a statement.
Ark Restaurants Corp. (ARKR) owns and/or operates 22 restaurants and bars, 29 fast food concepts and catering operations through its subsidiaries. Shares of ARKR traded higher by 0.36% or $0.064/share to $18.04. In the past year, the shares have traded as low as $13.86 and as high as $18.06. On average, 4335 shares of ARKR exchange hands on a given day and today's volume is recorded at 2035.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.98% or $0.3/share to $30.82. In the past year, the shares have traded as low as $26.20 and as high as $31.18. On average, 757806 shares of TRI exchange hands on a given day and today's volume is recorded at 484361.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.76% or $0.23/share to $30.63. In the past year, the shares have traded as low as $26.47 and as high as $31.22. On average, 846648 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 563626.
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