Market Overview

Brinker International A Possible Buyout Candidate?

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Brinker International (NYSE: EAT) announced last Thursday the resignation of CFO Chuck Sonsteby. Since the announcement, the stock has traded down 6.3%. Public speculation around potential buyouts in the restaurant industry has increased recently, including a Reuters article from Sep. 3 commenting on a possible "flurry of restaurant deals" and mentioning Brinker International as a potentially attractive buyout candidate. Brinker has had significant recent turnover at the executive level of the company. All in, J.P. Morgan believes the relatively high level of turnover at executive levels has continued to elevate pressure on the board to entertain all potential opportunities.

Brinker International closed Monday at $17.63.

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Posted-In: J.P. MorganAnalyst Color Analyst Ratings

 

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