Bandera Partners To Vote In Favor of Morgan’s Foods Inc. (MRFD) Merger With Apex

In an amended filing with the Securities and Exchange Commission, Gregory Bylinsky and Jefferson Gramm’s Bandera Partners has disclosed entering into a voting agreement with Apex Restaurant Management Inc. and Apex Brands Foods Inc. in connection with their plans to acquire Morgan’s Foods Inc. (OTCMKTS:MRFD). Pursuant to the terms of the voting agreement, the fund agreed to vote all of the shares it beneficially owns in favor of the merger and against certain other corporate transactions. The voting agreement terminates if, among other things, the merger agreement is terminated in accordance with its terms or upon completion of the merger, according to the filing.

Bandera Partners owns around 1.05 million shares of Morgan’s Foods Inc. (OTCMKTS:MRFD), equivalent to 26.0% of the company’s common stock and remains unchanged.

Morgan's Foods

Morgan’s Foods Inc. (OTCMKTS:MRFD) was formed in 1925 and it owns and operates 68 KFC, Taco Bell and Pizza Hut Express franchises in Ohio, Pennsylvania, West Virginia, Illinois, New York and Missouri.

According to a news release on March 31, Apex Restaurant Management Inc. has agreed to acquire Morgan’s Foods Inc. (OTCMKTS:MRFD) for $5.00 per share in cash. The proposed acquisition is subject to approval by Morgan’s Foods Inc. (OTCMKTS:MRFD) shareholders and is expected to close during the summer of 2014. The deal is approved by the boards of directors of both companies.

Based in New York, Bandera Partners was founded by Greg Bylinsky and Jeff Gramm in 2006. At the end of the fourth quarter of 2013, the value of the fund’s equity portfolio was $204.3 million. Last month, Bandera Partners disclosed in a new filing that Jeff Gramm was appointed to be elected to the board of directors of Ambassadors Group Inc (NASDAQ:EPAX).

At the beginning of the year, Bandera Partners reported reducing its exposure to Tandy Leather Factory, Inc. (NASDAQ:TLF), holding 2.86 million shares, which represent around 28% of common stock.

Disclosure: none

Recommended Reading:

Greg Taxin, Clinton Group Up Stake in NutriSystem Inc. (NTRI) & Send Another Letter to the CEO

Whitebox Advisors Closes Stake in Cash America International Inc (CSH)

Becker Drapkin Management Further Reduces Holding in Pacer International, Inc. (PACR) to Under 2%

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!