Investor Challenges $1.1B PF Chang's-Centerbridge Deal

Law360, New York (May 21, 2012, 5:25 PM EDT) -- A P.F. Chang's China Bistro Inc. shareholder filed a proposed class action against the Chinese restaurant chain's board of directors Friday, aiming to derail the company's $1.1 billion merger deal with New York private equity firm Centerbridge Partners LP.

Under the deal, announced May 1, Centerbridge is set to acquire all of Arizona-based P.F. Chang's stock for $51.50 per share, prompting shareholder Hillary Coyne to file suit in Delaware Chancery Court on the grounds that the offer undervalues the company.

“The $51.50-per-share price agreed to by...
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