Popeyes-Church’s Merger Proceeds: Popeyes Famous Fried Chicken...

Popeyes-Church’s Merger Proceeds: Popeyes Famous Fried Chicken owner Al Copeland has accepted the latest offer of enough of Church’s Fried Chicken Inc. stock to allow completion of his takeover of the company, a spokesman said. “Biscuit Investments Inc. now owns a sufficient number of shares to approve the previously announced merger of Biscuit Investments into Church’s,” said Mark McKinnon, spokesman for Copeland’s investment company. Out of about 36 million shares outstanding, Copeland was offered 33,475,514 common shares and accepted 30,100,000 at a cash price of $11 a share. The total purchase price will be $392 million.