Einstein Noah Restaurant Group Inc. (0.3%) (BAGL)($20.16 - NASDAQ) is a Colorado based owner/operator, franchisor, and licensor of bagel specialty restaurants in the U.S. On September 29, 2014, Einstein Noah announced a definitive agreement to be acquired by private investment firm JAB Holding Co. through a $20.25 per share cash tender offer. The offer is conditioned on a minimum tender of at least a majority of Einstein Noah’s outstanding shares. Greenlight Capital, which owns 37% of Einstein Noah, has agreed to tender its shares in support of the transaction. The deal is expected to close by year end.
From Mario Gabelli (Trades, Portfolio)’s ABC Fund Q3 2014 Commentary.
