Akin Gump Advises Durational Capital Management in Bojangles’ Acquisition
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(New York) – Bojangles’, Inc. today announced that it has entered into a definitive agreement to be acquired by Durational Capital Management LP and The Jordan Company, L.P. Akin Gump advised Durational Capital Management in the transaction.
Under the terms of the agreement, Durational Capital and The Jordan Company will acquire Bojangles’ in an all cash transaction. Bojangles’ stockholders will receive $16.10 per share, representing a 39 percent premium to the closing share price of February 12, 2018, a day prior to initial speculation regarding a potential transaction involving Bojangles’, and a premium of approximately 30 percent to the 90-day volume weighted average price ending on February 12, 2018. The offer represents a 15 percent premium to the closing share price of September 27, 2018, a day prior to a published report that Bojangles’ is exploring strategic alternatives.
The transaction is expected to be completed in the first quarter of fiscal year 2019.
Jeffrey Kochian and Trey Muldrow, partners in the corporate practice at Akin Gump, led the team advising Durational Capital. They were joined by counsel Kim Rowe, associates Andrés Zambrano and Ross Karlik and law clerk Rebecca Ney.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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