(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
TAMPA, FL-OSI Restaurant Partners, the parent company of the Outback Steakhouse chain, is being acquired by a private-equity venture for $3.2 billion, or $40 per share. The buyers include firms Bain Capital Partners and Catterton Partners, as well as Outback founders Chris Sullivan, Robert Basham and J. Timothy Gannon.
The deal would take the New York Stock Exchange-traded company private. The parties expect to close the transaction by April, pending approval from shareholders.
OSI is currently trading at roughly $40, though the company's stock closed Friday at $32.43. The stock's 52-week high came in at $48.28, while its lowest trade was $27.30.
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