CKE Restaurants

Apollo Digests CKE Restaurants in $694 Million Deal

CKE Restaurants, operator of Carl's Jr. and Hardee's, has accepted Apollo's $694 million offer, spurning an earlier bid from THL Partners. The bidding war suggests that private equity operators are getting more aggressive with deal-making.

Food Fight: It's a Bidding War For Carl's Jr.-Hardee's

Interested bidders have until noon Wednesday to get their buyout offers in for CKE Restaurants, the parent company of fast-food chains Carl's Jr. and Hardee's. Right now, the bid to beat is $928 million, but an anonymous new suitor submitted an alternative bid Wednesday morning.