Shares of P.F. Chang's soared nearly 30% Tuesday after the restaurant chain agreed to be acquired by private equity firm Centerbridge Partners in a $1.1 billion deal. Here's what it all means for the rest of the dynamic casual dining industry.
The tables are turning in the casual dining industry. Outback Steakhouse, which sold itself to a private equity group, is gearing up to go public. At the same time, publicly held Benihana is looking for a way out.
Apollo Global Management is shelling out $703 million for Great Wolf Resorts, the leading operator of indoor water park resorts. The $5-a-share offer is better than the stock has seen since 2008, but people who bought it around its 2004 IPO will end up taking a real bath.