OSI shareholders approve buyout
June 06, 2007
by FoodBusinessNews.net Staff
TAMPA, FLA. — Stockholders of OSI Restaurant Partners, Inc. approved an agreement and plan of merger between OSI, Kangaroo Holdings, Inc. and Kangaroo Acquisition, Inc.
Each outstanding share of OSI common stock will be converted into the right to receive $41.15 in cash, and the deal is expected to close around June 19.
Kangaroo Holdings is controlled by an investor group consisting of investment funds associated with Bain Capital Partners, LLC and investment funds affiliated with Catterton Management Co., LLC.
OSI’s restaurants include Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar, Roy’s, Lee Roy Selmon’s, Blue Coral Seafood & Spirits and Cheeseburger in Paradise.