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Jack in the Box Inc. Message Board

  • john.heil2 john.heil2 Oct 14, 2010 4:55 PM Flag

    JACK as a possible buyout

    My hope all along has been that JACK management staves off the predators during this current flurry of private equity buyouts.(the latest rumor, Wendy's, following the CKR Restaurants and Burger King deals). But I am wondering whether that will be possible with all the cash these groups hold and their ability to tender at whatever premium price. I would take nothing less than $30.00 a share right now on a friendly tender basis (or White Knight intercession) if I was JACK management. And, it is best that a stock transaction ensues which eliminates taxation concerns for those management people holding larger blocks. For example, why wouldn't YUM Brands be more than delighted to acquire JACK at less than 15X the $2.02 estimate for the fiscal year ending about September 30, 2011? That is accretive to their EPS, and they acquire a company with a sounder balance sheet than their own. Furthermore, they would really make something of JACK as a national and international brand (they have no burger chain at present), and of course Qdoba would become the new Chipotle under their aggressive style of expansion. To round out YUM's portfolio of fast and casual food operations, they need a JACK and a Qdoba.
    Big J in L.A.

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