CARPINTERIA, Calif. — The operator of Carl’s Jr. and Hardee’s restaurants has accepted a higher buyout offer from a second suitor, an affiliate of Apollo Management VII LP, worth $694 million.
The bid for
CKE Restaurants Inc. said it took the offer, worth $12.55 per share, from Apollo affiliate Columbia Lake Acquisition Holdings Inc.
Lee was among a trio of investment firms that bought Dunkin’ Brands Inc. in 2006.
CKE operates and franchises 3,141 restaurants in 42 states.