Benihana explores strategic alternatives

Investor discontent has led Benihana Inc. to explore a possible sale and other strategic alternatives, the company said Tuesday.

Despite a renewal program over the past year at its flagship teppanyaki chain and approval of a merger plan to issue new shares, Benihana's chief executive Richard Stockinger said in a statement that “several large shareholders have expressed disagreement with the board and have indicated a desire to seek board membership to pursue a change in the comp