Benihana Inc. said Tuesday it has agreed to go private in a $296 million deal with the New York-based Angelo, Gordon & Co. Private Equity Group.
Angelo Gordon agreed to acquire Miami-based Benihana's common stock for $16.30 per share in cash, a 22.6-percent premium over Monday’s close of $13.30 per share. Benihana’s shares had traded between $6.76 and $16.59 in the past 52 weeks.
The company had announced in mid-March that it was looking at strategic alternatives