Wednesday, March 10, 2010
Western Sizzlin delists stock prior to merger
Western Sizzlin Corp. intends to remove its common stock from the Nasdaq index, related to a planned acquisition by Steak 'n Shake Co.
Roanoke-based Western Sizzlin said this week that it has given notice to Nasdaq to de-register its stock. It plans to file a form about this delisting with the Securities and Exchange Commission on or about March 19, according to a news release.
In October, Indianapolis-based Steak 'n Shake and Western Sizzlin said they intended to merge.
With this move, Steak 'n Shake, a hamburger company, will form a subsidiary to acquire Western Sizzlin. Western Sizzlin would become a private company and a wholly owned subsidiary of Steak 'n Shake.
Western Sizzlin will hold a meeting March 22 in San Antonio for its shareholders to consider and vote on this planned acquisition.
-- Jenny Kincaid Boone
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