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Kettle Acquisition Corp. withdraws proposal.
PR Newswire
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November 23, 1988
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COPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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KETTLE ACQUISITION CORP. WITHDRAWS PROPOSAL
HOUSTON, Nov. 23 /PRNewswire/ -- Kettle Restaurants Inc. announced today that Kettle Acquisition Corporation has formally withdrawn its proposal to acquire the company, leaving the management-led leveraged buyout as the only remaining proposal to acquire Kettle. Also, management's proposal to purchase approximately 48 percent of the outstanding shares of stock not owned by management, their relatives or the Kettle Restaurants Inc. employee stock ownership plan has been increased to a price of $6.50 per share.
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