TAMPA, FLA. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
The going-private transaction, first announced in November and recently contested by an investor, would provide $3.17 billion to shareholders at $40 per share, with the remaining funds earmarked for refinancing and merger fees, according to a proxy statement filed with securities regulators. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
Equity financing would include $853 million from Bain Capital Partners LLC and $150 million from Catterton Management Co. LLC. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
Members of OSI management would cover the remaining equity portion by exchanging their OSI shares for shares of newly formed parent company Kangaroo Holdings Inc. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
Debt financing, from Banc of America and Deutsche Bank, would include $1.1 billion in term loans, a six-year $250 million revolving line of credit, a $530 million real estate loan and $800 million in public bonds. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
The deal, expected to close by April, may have hit a snag. Shareholder Robert Mann sued OSI, alleging that the $40-per-share offer is “grossly unfair,” the Miami Herald reported Feb. 2. Mann demanded that the company secure higher proceeds through an auction process. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
OSI did not return calls seeking comment. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
According to filings, however, OSI did spend 50 days after the announcement of the buyout soliciting or entertaining alternative offers. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
The results of that effort were not disclosed, but the deal has moved forward, suggesting no offer had topped the $3.2 billion price tag. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
The buyout still is subject to shareholder approval. —OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
—OSI Restaurant Partners Inc. disclosed last month details of the pending $3.63 billion buyout of the company, which will include debt financing of nearly $2.7 billion and cash or equity contributions of about $1 billion.
