SAN ANTONIO Steak n Shake Co. closed on its acquisition of Western Sizzlin Corp. on Tuesday, with former Western Sizzlin stockholders receiving a total of $23 million in newly issued debt. The total price equals about $8.07 in principal amount for each former Western Sizzlin share. The new issue of 14-percent redeemable subordinated debentures is due 2015. Western Sizzlin is the operator or franchisor to the namesake 105-unit steak buffet chain and ...
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Contact: Desiree Torres Desiree.Torres@penton.com