Fox & Hound's shares last traded at $13.22 yesterday before the market closed. Newcastle Partners claims to already own 836,049 shares of the 82-unit chain.
Dallas-based Newcastle is currently in a $1.20-per-share bid to buy the 389-store Whitehall Jewellers. Steel Partners II, of New York City, counts among its investments a portion of investment firm BKF Capital Group.
Fox & Hound, which operates restaurants under the Fox and Hound English Pub and Bailey's Sports Grille names, opened two new units in its Q3. For the rest of the fiscal year, executives are planning two to three new restaurants and an additional 10 to 11 in its next fiscal year.
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