JAX - J. Alexanders to be acquired by SPB Hospitality for $14.00 per share in cash

Zhanna Hapanovich/iStock via Getty Images J. Alexanders Holdings (JAX) enters a merger agreement under which SPB Hospitality will acquire the Company in an all-cash transaction valued at ~$220 million. The Company's shareholders will receive $14.00/share in cash, representing a 14% percent premium to the closing price on July 1. J. Alexander's Board approved the merger of Directors following a review of a wide range of strategic alternatives, first announced in August 2019. The transaction is expected to be completed early in Q4'21, subject to necessary approvals. Shares +13.7% premarket.

For further details see:

J. Alexanders to be acquired by SPB Hospitality for $14.00 per share in cash