Roark Capital emerged victorious over rival bidders TriArtisan Capital Partners and Pamplona Capital Management to acquire restaurant group CKE Inc, which is the parent company of fast food chains Hardees and Carl's Jr.
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TriArtisan Capital Partners emerged as the top bidder for California-based restaurant operator CKE Inc in a deal valued at almost USD2 billion, according to sources familiar with the situation.
Private equity-backed CKE Inc expects to sell 13.3 million shares in its initial public offering at between $14 and $16 each.
Private equity-backed CKE Inc filed with U.S. regulators on Thursday to raise up to $100 million in an initial public offering.
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