Equity firm to take P.F. Chang's private in $1.1 billion deal

Private-equity firm Centerbridge Partners will pay $1.1 billion or $51.50 per share to acquire P.F. Chang's and take the company private as it works to reverse slowing sales and traffic at its namesake and Pei Wei Asian Diner chains. On Tuesday, the company reported a 40% drop in profits as customer counts continued to decline.

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PF Chang's Reaches Deal to Be Taken Private - Wall Street Journal, The

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