Lone Star Steakhouse & Saloon

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Lone Star Steakhouse & Saloon logo

Lone Star Steakhouse & Saloon (Formerly traded as NASDAQ: STAR) is a casual dining restaurant chain, serving steak, seafood, salad, and similar food items. Lone Star opened its first restaurant in October 1989 in Winston-Salem, North Carolina. In March 1992, Lone Star became a public company with 8 restaurants opened. Lone Star had 265 locations at the end of 1999.

Lone Star also operates the restaurant concepts Sullivan's (1940's styled with jazz music), DelFrisco's Double Eagle Steak House (upscale traditional), and Texas Land and Cattle (ranch house styled).

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[edit] Lone Star Steakhouse & Saloon Australia

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Lone Star Steakhouse & Saloon first opened its door in Australia, at Parramatta in January 1993.

On December 22, 2003, the Australian operations were bought out by Robert Lapointe and Tim Smith[citation needed]

At the current time, there are 12 Lone Star Restaurants operating in New South Wales and Queensland employing more than 1,000 people.[citation needed]

[edit] Lone Star Steakhouse Goes Private

On August 18, 2006, Lone Star Steakhouse signed an agreement to be acquired by Lone Star Funds, (an unaffiliated, Dallas-based private equity firm), for $27.10 per share in cash. This initial agreement was opposed to by some major shareholders.[1]

On November 11, 2006, Lone Star Funds raised it's offer to $27.35 per share.

On December 12, 2006, shareholders voted to accept the offer.

Lone Star Steakhouse has subsequently been de-listed from NASDAQ.

[edit] References

TheDealBlogs — The Deal Blogs Network

[edit] External links

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