Reuters: Private Equity: PF Changs to go private in $1.1 bln deal with PE firm

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PF Changs to go private in $1.1 bln deal with PE firm May 1st 2012, 11:46 Tue May 1, 2012 7:46am EDT May 1 (Reuters) - PF Changs China Bistro Inc said it signed a deal to be bought by private equity firm Centerbridge Partners L.P. for $1.1 billion. Centerbridge will pay $51.50 per share for the restaurant operator -- a premium of about 30 percent to its stock's Monday close. Separately, PF Changs, which operates namesake Bistro restaurants and the smaller Pei Wei quick-service chain, also reported first-quarter results.

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