Angelo Gordon Takes Out Benihana from the Public Markets
August 22, 2012
Angelo, Gordon & Co. has completed its $295 million take-private buyout of Benihana (NASDAQ: BNHN), the Japanese theme and sushi restaurant operator behind Benihana, RA Sushi and Haru restaurants. In total, the company operates 95 restaurants nationwide. Angelo Gordon paid $16.30 per share, which represented a 46% premium over the average closing share price for the 30 days prior to the company's announcement that it was exploring strategic alternatives, including a possible sale.