| Stock up 12% Today $8.47 | | | | company said in a regulatory filing. |
| With the start of a consumer spending recovery | | | | Mill Road's offer is an all cash transaction valued at |
| and greater access to capital, private equity firms | | | | $8.70/share, representing a premium of about |
| have lately been showing renewed interest in | | | | 14% to Rubio's Friday closing price of $7.66. Ralph |
| restaurant companies. Seven months ago, Rubio's | | | | Rubio, founder and chairman of Rubio's, Chief |
| rejected an offer of an unsolicited buyout of $8 a | | | | Executive Daniel Pittard, and private equity firm |
| share, a 33% premium to its then stock price. Mill | | | | Rosewood Capital collectively own about 24% of |
| Road Capital, L.P., a private investment firm based | | | | the company's outstanding shares. They have all |
| in Greenwich, Connecticut, has announced its | | | | committed to vote in favor of the proposed deal |
| desire to acquire Rubio's Restaurants, Inc. The | | | | with Mill Road Capital. The transaction has been |
| primary goal of Mill Road Capital is to directly own | | | | unanimously approved by Rubio's board and the |
| "a diversified group of businesses that generate | | | | deal is expected to close during the third quarter |
| cash and consistently earn above-average returns | | | | of this year. Mill Road will acquire all of Rubio's |
| on capital". Rubio's, which operates more than 195 | | | | outstanding shares in this cash merger transaction, |
| restaurants in California, Arizona, Colorado, Utah, | | | | and the aggregate transaction value is |
| and Nevada, has reported a first quarter profit of | | | | approximately $91million. After the announcement |
| $367,000, or 4 cents a share; up from $245,000, | | | | of this takeover, Rubio's shares rose 12% to a 2 |
| or 2 cents a share, a year earlier. It currently | | | | year high of $8.60 in morning trading Monday in |
| owns about 5% of Rubio's outstanding shares, the | | | | the NASDAQ. |