THL Strikes Deal To Buy Hardee's Owner For $928M

By Brendan Pierson

Law360, New York (February 26, 2010, 1:06 PM ET) -- CKE Restaurants Inc., owner of the of Carl's Jr. and Hardee's fast food chains, announced Friday that it has agreed sell itself to investment firm Thomas H. Lee Partners for $928 million, providing a 24 percent premium for CKE investors.

The purchase price includes the assumption of about $308 million of CKE's debt, the company said. Bank of America Merrill Lynch and Barclays Capital are providing financing for the deal.

CKE also will solicit better offers from third parties through April 6, it said. CKE said...
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