IN BRIEF : Popeyes to Give Takeover Notice

Popeyes Famous Fried Chicken and Biscuits must give five days notice if it decides to go ahead with efforts to take over Church’s Fried Chicken before a court ruling on Church’s pending appeal, a federal court said.

The U.S. 5th Circuit Court of Appeal on Thursday ordered New Orleans-based Popeyes not to buy Church’s stock without notice until the Jan. 12 hearing on the San Antonio-based company’s fight against a takeover.

Church’s has asked the court to stop Popeyes’ $290-million takeover bid, claiming it is based on information misappropriated by two former Church’s employees now working for Popeyes.

Ernest E. Renaud, president of Church’s, called the ruling a victory for his company, the No. 2 fried chicken outlet in the country.

“Popeyes isn’t going anywhere for the time being and I believe we have a good shot at winning on appeal because the case law is in Church’s favor,” Renaud said.

Popeyes’ attorney, Peter Butler, said the ruling doesn’t slow the effort by Popeyes owner Al Copeland to buy Church’s stock with an $8-dollar-a-share tender offer, which expires tonight. Church’s board of directors is trying to find other buyers to fend off Popeyes’ buyout offer, which it has said is not enough.