CKE Completes Summit Family Acquisition
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ANAHEIM — CKE Restaurants Inc. said it has completed its previously announced acquisition of Summit Family Restaurants, Inc.
Summit shareholders will receive stock and cash valued at about $24 million. During a shareholder meeting last Friday in Salt Lake City, 65.1% of Summit’s shares were voted in favor of the deal. Summit operates 124 JB’s Restaurants, Hometown Buffets and Galaxy Diners in western states. Anaheim-based CKE is the parent company of the Carl’s Jr. chain.
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