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Lone Star Steakhouse Agrees to Be Acquired

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From Reuters

Steakhouse chain operator Lone Star Steakhouse & Saloon Inc. agreed to be acquired by a Dallas-based private equity firm for more than $600 million.

Lone Star Funds would pay $27.10 a share for the company, 15% higher than the stock’s Thursday closing price of $23.55.

The deal is expected to be completed in the fourth quarter. It is subject to shareholder approval.

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The Wichita, Kan., company owns and operates 222 Lone Star restaurants in the United States.


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