Back Yard sets vote on buyout offer

MEMPHIS Tenn. Back Yard Burgers, Inc. said it has set a date for shareholders to vote on a proposed $38-million buyout of the company by an investment group led by former Shoney’s and Sonic chief Steve Lynn.

Aspecial meeting will be held here on Aug. 3 for a vote on the offer by shareholders of record as of the close of business on July 6, Back Yard announced. The board has recommended that shareholders vote in favor of the buyout by Lynn’s group.


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