Looks like the ownership of Carlsbadistan-based Mexican fast-casual chain Rubio’s Restaurants Inc. is not going to be sold after all, according to The Deal.
Mexican-themed casual dining chain Rubio’s Restaurants Inc. said late Thursday, Oct. 29, it rejected an $80 million buyout offer from shareholder Alex Meruelo and private equity firm Levine Leichtman Capital Partners. Rubio’s board said the $8 per share bid, announced Oct. 14, was not in the best interest of its stockholders.
But that isn’t stopping the company from looking for other buyers who may offer more.
[Link: The Deal]
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