Other uses of this information include internal review of the number of visitors to the site but only in an aggregate and non-personally-identifiable form. Information tracked includes the type of operating system in use and the type of browser being used by the visitor. This information is primarily used to provide an enhanced online experience for the visitor. However, certain non-personal information of visitors is recorded by the standard operation of SPB Hospitality LLC Internet servers. As a general policy, no personal information is automatically collected from visitors to the site. “After a thorough evaluation and strategic process, the Board is confident that this transaction provides excellent value to our shareholders.SPB Hospitality LLC is very sensitive to the privacy concerns of the visitors to our site on the Internet. “Our board evaluated a full range of strategic, financial and capital structure alternatives to best serve the interests of our shareholders,” said Lonnie J. Alexander’s shareholders, the Hart-Scott-Rodino Antitrust Improvements Act of 1976 waiting period, and any additional customary closing conditions.
Alexander’s and SPB Hospitality expect the transaction to be completed early Q4 2021, subject to approval by J. The deal was backed by a number of company officers, directors and shareholders, as well as Newport Global Opportunities Fund I-A LP and Ancora Holdings LLC, having 20% of the outstanding shares of common stock.Īncora Holdings had made a a takeover bid for the company in 2019 as an activist shareholder. Alexander’s/Grill restaurant concepts were up 3.1% from last year, while at Stoney River Steakhouse, they were up 4.0%. During the first quarter, net sales were up 0.7% from the prior year, totaling $57.4M. Its fine-dining and polished-upscale restaurants took a beating, but most recently had rebounded to near pre-pandemic levels. Alexander’s had tackled many challenges during the pandemic as it faced dining room restrictions and consumer reticence to dine out. The payment per share also represents a premium of 78% to the closing share price when the company announced it had completed its strategic review (February 9, 2021). Alexander’s common stock will receive $14 per share, a premium of 14% to the price of the stock July 1, 2021. Alexander’s Restaurant and Stoney River Steakhouse, for approximately $200M. Alexander’s Holdings, parent of several upscale restaurant brands, including J. SPB Hospitality LLC, the parent of Gordon Biersch Brewery and Logan’s Roadhouse, has acquired J. Alexander’s strategic review, start of sales recovery
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