Checkers Drive-In shareholders approve merger; company to go private

Checkers Drive-In shareholders approve merger; company to go private
Tags: Burger/Steak/BBQ, Chicken, Drive-thru, Legal Issues
June 15, 2006

TAMPA, Fla. — Checkers Drive-In Restaurants Inc. said its shareholders voted in favor of merging with Taxi Holdings Corp., an affiliate of Wellspring Capital Management LLC, a private equity firm. Taxi Holdings will acquire all of Checkers outstanding shares.

The merger is expected to close within the next few days. The company will delist from all public exchanges once the merger is completed.

"We are pleased the shareholders agreed that this transaction offers the best opportunity to maximize value," said Keith E. Sirois, president of Checkers. "We look forward to the strategic and financial benefits that private ownership with Wellspring."