The rival buyout offer received by CKE Restaurants Inc. this week was from private-equity firm Apollo Management, Reuters reported Thursday.
CKE, the Carpinteria, Calif.-based parent to the Carl’s Jr. and Hardee’s chains, has until April 27 to evaluate the new offer.
On Wednesday, CKE said it had received a buyout offer that may be better than the bid made in February by private-equity firm Thomas H. Lee Partners LP to buy the company for $928 million. THL's offer includes the assumption of $309 million in debt and a per-share cash price of $11.05.
