Thursday, April 8, 2010

More on the masked bidder for CKE

Reuters reported this morning that the second bidder for CKE Restaurants, the parent of Carl's Jr. and Hardee's, is Apollo Managemet, a private equity firm with a stake in the Garden Fresh buffet chain. Reuters cited unidentified sources, and noted that Apollo neither confirmed nor denied its involvement.

Apollo has also been a lender to U.S. Foodservice, the restaurant distribution giant, and Kronos, a supplier of foodservice time-management technology.

The amount of the second bid was not disclosed in the Reuters report.

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