Brinker International Announces Preliminary Results of Tender Offer
12 Ottobre 2006 - 4:00PM
PR Newswire (US)
DALLAS, Oct. 12 /PRNewswire-FirstCall/ -- Brinker International,
Inc. (NYSE:EAT) announced today the preliminary results of its
modified "Dutch Auction" tender offer which expired at midnight,
Eastern Time on Oct. 11, 2006. Based on a preliminary count by
Mellon Investor Services, the depositary for the tender offer,
Brinker expects to accept for purchase approximately 1,259,241
shares of its common stock at a purchase price of $40 per share,
for a total cost of $50.4 million. These shares represent
approximately 1.5 percent of Brinker's total shares of common stock
outstanding as of the quarter ended Sept. 27, 2006. Because the
number of shares of common stock validly tendered at or below the
purchase price was less than the number of shares that Brinker
offered to purchase, proration will not be necessary. The number of
shares to be purchased and the purchase price per share are
preliminary. Final results for the tender offer will be determined
subject to confirmation by the depositary of the proper delivery of
the shares validly tendered and not withdrawn. The actual number of
shares to be purchased and the purchase price per share will be
announced following the completion of the confirmation process.
Payment for the shares accepted for purchase will occur promptly
thereafter. In the tender offer, Brinker offered to purchase up to
11,250,000 shares of its outstanding common stock at a price per
share not greater than $40 and not less than $35.25, for a maximum
aggregate purchase price of $450 million. All inquiries about the
tender offer should be directed to the information agent, D. F.
King at (800) 578-5378 or collect at (212) 269-5550. At the end of
fiscal year 2006, Brinker International either owned, operated, or
franchised 1,622 restaurants under the names Chili's Grill &
Bar (1,200 units), Romano's Macaroni Grill (241 units), Maggiano's
Little Italy (37 units), and On The Border Mexican Grill &
Cantina (144 units). The statements contained in this release that
are not historical facts are forward-looking statements. These
forward-looking statements involve risks and uncertainties and,
consequently, could be affected by general business and economic
conditions, the impact of competition, the impact of acquisitions
and divestitures, the seasonality of the company's business,
adverse weather conditions, future commodity prices, fuel and
utility costs and availability, terrorists acts, consumer
perception of food safety, changes in consumer taste, health
epidemics or pandemics, changes in demographic trends, availability
of employees, unfavorable publicity, the company's ability to meet
its growth plan, acts of God, governmental regulations, and
inflation. Contacts: Media Relations Laura Conn, Investor Relations
(800) 775-7290 (972) 770-5810 DATASOURCE: Brinker International,
Inc. CONTACT: media relations, +1-800-775-7290, or investor
relations, Laura Conn, +1-972-770-5810, both of Brinker
International, Inc.
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