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Non-Tech : CKR:The Fastest Growing Restaurant
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To: The Perfect Hedge who wrote (37)1/18/1998 6:26:00 PM
From: Chuzzlewit  Read Replies (1) of 100
 
Glen, the news was singularly lacking in details concerning how the acquisition was to be financed. As you point out, the debt is not included in the purchase price (which assumes 100% cash), so when CKE assumes debt, the amount of cash they will have to pay is reduced by the amount of debt they assume. Whatever additional cash is required will come from one or more of the following sources:

1. Cash and investments owned by CKE;
2. New debt to be issued by CKE; and
3. A secondary secutities offering.

The news release did not specifiy exactly how the restaurants were to be financed. I hope this answers your question. If not, please try to be more specific about what's troubling you.

By the way, I checked my brokerage account, and the 10% stock dividend did not show up as of cob Friday. Where did you get the info that it had hit the street?

Regards,

Paul
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