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Article: Ground Round Restaurants, Inc. Signs Definitive Merger Agreement at $1.65 Net Per Common Share
- Article from:
- PR Newswire
- Article date:
- September 2, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOSTON, Sept. 2 /PRNewswire/ -- GRR Holdings, LLC ("Holdings") , a limited liability company formed by Boston ventures, and Ground Round Restaurants, Inc. ("Ground Round") (Nasdaq-NNM: GRXR) today announced that they have signed a definitive merger agreement for Holdings to acquire all outstanding shares of Ground Round common stock for $1.65 net per share in cash.
Under the terms of the agreement, which has been approved by the board of directors of Ground Round, GRR Merger Corp., a subsidiary of Holdings, will begin a tender offer no later than September 8, 1997 for all outstanding shares of Ground Round common stock at $1.65 net per share in cash.
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