CKE stockholders approve $1B buyout

CKE stockholders approve $1B buyout

CKE Restaurants Inc. said late Wednesday that its shareholders approved the proposed $1 billion buyout by affiliates of Apollo Management VII LP.

The company said the affirmative vote represented about 76 percent of the outstanding shares of common stock as of close of business on May 10. Of the shares voted at the meeting, about 99 percent were in favor of the deal.

Company officials at the Carpinteria, Calif.-based company, which owns the Carl’s Jr. and Hardee’s br

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