WILBRAHAM Mass. Shareholders in Friendly Ice Cream Corp., the operator or franchisor of 515 Friendly’s family-dining restaurants, approved on Wednesday a buyout of the company by Sun Capital Partners Inc. affiliate Freeze Operations Inc. in a deal valued at $337.2 million, including debt. The transaction, which was first proposed in June and calls for Friendly shareholders to receive $15.50 per share in cash, is expected to close Thursday. Based on the preliminary results from the ...

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