SCOTTSDALE Ariz. Kona Grill Inc. could be facing a static future, the company’s second-largest shareholder said in a letter offering $27.9 million to take the company private. —After months of shareholder unrest, Following the resignation of Kona’s chief executive in mid-May, Mill Road Capital L.P. offered on May 18 to purchase the parent of the 22-unit upscale-casual chain for $4.60 a share, nearly double the May 15 closing price of ...

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