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CKE to Sell Carl’s Jr. and Hardee’s

Thursday, March 4, 2010
By Lyz Hoffman

Carpinteria-based CKE Restaurants—which owns the Carl’s Jr. and Hardee’s restaurant chains — announced this week that it will likely be bought by Boston-based Thomas H. Lee Partners (THL) for $928 million. CKE has until April 6 to make its final decision and, should the announced plan take effect, THL would also assume CKE’s $309 million debt. CKE stockholders would receive $11.05 in cash for each share of common stock held a 24 percent premium to the company’s closing share price of $8.91.

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