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The purveyor of popular fish tacos and other Baja-inspired fast food said it received the unsolicited offer Tuesday from Alex Meruelo and his affiliates, and Levine Leichtman Capital Partners IV L.P., a Los Angeles-based investment firm.
At Wednesday's closing price of $6.00 per share, the offer represents a 25 percent premium.
"The board intends to consider the letter consistent with its fiduciary duties to act in the best interests of the company's stockholders," Rubio's said in a statement.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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