ROANOKE Va. Western Sizzlin Corp. on Friday terminated its stock-swap offer for a 1.2-percent stake in Jack in the Box Inc., but plans to try again after regulatory compliance obligations are met.
On Oct. 3, the parent of the 117-unit steakhouse brand said it would offer 1.607 shares of its stock for each share of Jack in the Box, up to 680,500 shares. However, as of Oct. 16, no Jack in the Box common shares had been tendered.
Jack in the Box has said it would not comment until the offer was formally filed with the U.S. Securities and Exchange Commission. Western Sizzlin said it would commence the exchange after its required Form S-4 becomes effective, but no target date was specified.