Ark Restaurants Corp. (ARKR) Friday said its Board of Directors have rejected the unsolicited proposal by Landry Inc. to acquire Ark Restaurants, after review of the proposal with its independent financial and legal advisors.
"The Board believes that the proposal by Landry's significantly undervalues the Company and its future prospects. In the Board's judgment, Ark's shareholders will be better served by our experienced management operating and growing our business, " said Michael Weinstein, Chairman, CEO.
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