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Client Alerts

Tucker Ellis Client Morgan’s Foods Closes Transaction After Prevailing in Shareholder Challenge

June 2014

On May 27, 2014, Morgan’s Foods, Inc. announced the completion of a $20.6-million acquisition of Morgan’s Foods by Apex Restaurant Management, Inc. Under the terms of the merger, Apex purchased the outstanding shares of Morgan’s Foods for $5.00 per share in cash, which netted Morgan’s Foods’ shareholders a 100% premium over the pre-announcement trading price for their shares. The transaction closed with 93% of the outstanding shares of Morgan’s Foods voting in favor of the deal, representing 99% of the shares voted. Tucker Ellis represented Morgan’s Foods in the transaction. Click here to read the Client Alert.

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This Client Alert has been prepared by Tucker Ellis LLP for the use of our clients. Although prepared by professionals, it should not be used as a substitute for legal counseling in specific situations. Readers should not act upon the information contained herein without professional guidance.