CKE Restaurants (CKR) Accepts $694 Million Buyout Offer

CKE Restaurants (NYSE: CKR) has accepted a $694 million buyout offer from private equity firm Apollo Management’s affiliate, Columbia Lake Acquisition Holdings. The deal values CKE at $12.55 per share.

Earlier, in February, the company had accepted another buyout offer from Thomas H. Lee, which had valued it at $11.05. Thomas H. Lee had offered $619 million in cash and had also agreed to assume debt of $309 million. However, the company has now accepted the superior offer.