Ryan's Announces Receipt of Shareholder Approval for Merger With Buffets
October 05 2006 - 11:35AM
PR Newswire (US)
GREER, S.C., Oct. 5 /PRNewswire-FirstCall/ -- Ryan's Restaurant
Group, Inc. (NASDAQ:RYAN) reported that its shareholders have
approved the proposed acquisition of the company by Buffets, Inc.
Upon the closing of the transaction, Ryan's shareholders will
receive $16.25 per share in cash. Completion of the transaction is
expected to occur in the fourth calendar quarter, most likely in
late October or early November, subject to the receipt of financing
and the satisfaction of customary closing conditions. At October 5,
2006, the Company owned and operated 333 restaurants. Certain
matters discussed in this press release are forward-looking
statements within the meaning of the federal securities laws and
are subject to uncertainties and risks, including, but not limited
to, the ability of Buffets and Ryan's to satisfy conditions to and
complete the merger transaction within certain timeframes, and
other risks described from time to time in the Company's reports
filed with the SEC. DATASOURCE: Ryan's Restaurant Group, Inc.
CONTACT: Fred T. Grant, Jr., Senior Vice President - Finance of
Ryan's Restaurant Group, Inc., +1-864-879-1000 Web site:
http://www.ryansrg.com/
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