| CKE Restaurants Inc Reduces Shares Outstanding by 2 Million |
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| Wednesday, 03 January 2007 | |
CKE Restaurants Inc Reduces Shares Outstanding by 2 MillionLOS ANGELES, CA (NAMC) The company that is better known for their restaurant brand chains such as Carl's Jr. , Hardee's and La Salsa Fresh Mexican Grill CKE Restaurants, Inc. (NYSE:CKR) , has made a deal with Pirate capital, LLC, its largest shareholder. The deal entailed CKE purchasing two million shares from Pirate Capital at a purchase price of $18.53 a share.CKE used its revolving credit facility to fund the private purchase which totaled over $37.1 million. This sale put Pirate Capital's stake in CKE to over 5 million shares or 7.2% of the total outstanding shares. Now what this means for shareholders is this, a smaller amount of shares in the public float, higher EPS as the stock should be shelfed and possibly a good showing when the markets open in 2007. CKE closed at $18.40 on Friday. Have a Happy and Safe New Year! NAMC Newswire Note: The 2007 "Wall Street to Main Street" Contest is underway and is only available to subscribers. Keep in mind that all subscriptions are free, all that you need to do is go to www.namcnewswire.com/contest and add your email address, its simple, quick and FREE. You can win one of the many prizes being offered from an iPod, Zune to various gift cards from select retailers.. This article can be republished either online or in print as long as credit is given to the author and the NAMC Newswire. Wall Street to Main Street is also one of the leading shows on StreetIQ , the leader in financial podcast: http://www.streetiq.com/dir/NAMC.shtml Also be sure to listen to the "Wall Street to Main Street" radio show that is syndicated daily. Just visit the NAMC radio at www.namcnewswire.com/namcradio. U.S. Trade Delegations to China scheduled for 2007, Small and Mid Cap Public and Private U.S. Companies are the Focus of the trips: www.namcworldwide.com/conferences |
