CKE to be sold to Apollo

CARPINTERIA, Calif. CKE Restaurants Inc., parent of Hardee's and Carl's Jr., said it has accepted a buyout deal valued at $1 billion from an affiliate of Apollo Global Management.

The deal with Columbia Lake Acquisition Holdings Inc., which includes a cash offer of $12.55 a share and the refinancing of CKE 's debt, is expected to close by the end of the second quarter of 2011, the companies said in a statement Monday morning.

CKE said it had

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