PF Chang's (PFCB) Announces End of 'Go-Shop' Period, Did Not Receive Any Other Bids
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P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) today announced the expiration of the “go-shop” period pursuant to the terms of the previously announced merger agreement, dated as of May 1, 2012, which contemplates the acquisition of all outstanding shares of common stock of the Company by Wok Acquisition Corp., a newly formed entity that is wholly-owned by funds advised by Centerbridge Partners, L.P., a leading private investment firm.
During the “go-shop” process the Company had the right to solicit superior proposals from third parties for a period of 30 calendar days, which expired at 11:59 p.m. New York City time on May 31, 2012. The Company noted that it did not receive any alternative acquisition proposals during this period.
During the “go-shop” process the Company had the right to solicit superior proposals from third parties for a period of 30 calendar days, which expired at 11:59 p.m. New York City time on May 31, 2012. The Company noted that it did not receive any alternative acquisition proposals during this period.
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