Welcome!

Premium Services
- My Services
- None
- Other Services
- Champion Funds
- Duke Street
- Global Gains
- Hidden Gems
- Income Investor
- Inside Value
- Million Dollar Portfolio
- Motley Fool Options
- Motley Fool Pro
- Pay Dirt
- Ready-Made Millionaire
- Rule Breakers
- Rule Your Retirement
- Stock Advisor
- *Get a Fool Credit Card

Help Join Now or

Updated: 11/9/2009 4:03 PM					Sponsored by:
	DOW	10226.94	203.52	2.03%
	S&P 500	1093.07	23.77	2.22%
	NASD	2154.06	41.62	1.97%

Kona Grill tells bidder its price is too low

By Associated Press
June 16, 2009 | Comments (0)

Recs

0

Kona Grill Inc. on Tuesday told a major shareholder that its offer to buy the restaurant operator's outstanding shares for $3.67 each undervalues the company.

The company wrote in a letter to Greenwich, Conn.-based Mill Road Capital LP that the proposed purchase price is too low. Mill Road made the offer on May 18.

"Accordingly, we do not believe it would be prudent to engage in discussions regarding a potential transaction at this time," Kona board member Mark Zesbaugh wrote.

Shares of Scottsdale, Ariz.-based Kona Grill fell 6 cents to $3.64 in afternoon trading.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 922116, ~/Articles/ArticleHandler.aspx, 11/9/2009 6:53:07 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.