Western Sizzlin to start exchange for 680,500 Jack in the Box shares

By Susanna Moon

Chicago, Oct. 3 - Western Sizzlin Corp. said it will begin an exchange offer for up to 680,500 shares of Jack in the Box Inc.

The exchange ratio is 1.607 Western shares per each Jack in the Box share.

Based on Jack's closing price of $19.37 on Oct. 3, the deal represents a value of $22.66 per Jack share, according to a company press release.

Western common stock closed at $14.10 on Oct. 3.

The exchange offer requires stockholder and regulatory approval. The offer will not be conditioned on any minimum number of Jack in the Box shares being tendered.

Western Sizzlin is a holding company based in Roanoke, Va.

Mentioned in this article:

Western Sizzlin Corp. Nasdaq: WEST

Jack in the Box Inc. NYSE: JBX

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