Pryor Cashman Negotiates Acquisition of Main Street Restaurant Group
A team of Pryor Cashman attorneys negotiated the acquisition of Main Street Restaurant Group by Main Street Acquisition Corp., a wholly-owned subsidiary of The Briad Group, newly formed for the purpose of the acquisition.
Main Street Acquisition entered into an agreement to acquire Main Street Restaurant (NASDAQ: MAIN), the world's largest franchisee of T.G.I. Friday's restaurants, the owner and operator of the Bamboo Club - Asian Bistro, the Redfish Seafood Grill and Bar restaurant concepts and operator of one Alice Cooperstown restaurant.
Under the agreement, Main Street Acquisition will commence a cash tender offer for all of the outstanding shares of Main Street Restaurant Group at $6.40 per share.
Corporate Partner Rich Frazer led the transaction for Main Street Acquisition Corp. and The Briad Group. Partner Chris Mellevold, a member of the firm's Banking and Finance Group, handled the financing documents with Bank of America. Associates Michael Campoli and Louis Ciccone assisted in the transaction.
