Western Sizzlin Corporation Commences Exchange Offer for Jack in the Box Inc.
Western Sizzlin Corporation (NASDAQ:WEST) today announced that it has commenced an exchange offer for up to 680,500 shares of Jack in the Box Inc. (NYSE:JBX) . The exchange ratio for the offer is 1.607 shares of Western common stock for one share of Jack in the Box common stock.
The exchange offer is conditioned upon, among other things, the registration statement for the issuance of Western shares in the exchange offer being declared effective by the Securities and Exchange Commission and, to the extent required by Nasdaq rules, stockholder approval of the issuance of Western shares in the offer, which the executive officers and directors of Western have the voting power to approve. Western's offer is not conditioned on any minimum number of Jack in the Box shares being tendered. The complete terms and conditions of the exchange offer are set forth in the registration statement and the other offering documents filed today by Western with the Securities and Exchange Commission.
The exchange offer is scheduled to expire at 5:00 p.m., New York City time, on Thursday, November 13, 2008, unless extended.
Morrow & Co., LLC is acting as Information Agent for the exchange offer.
Logos, product and company names mentioned are the property of their respective owners.
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