NPC abandons bid to go private – NPC International
PITTSBURG, Kan. — Just a month and a half after attempting to take NPC International private, executives have abandoned the project.
NPC, Pizza Hut’s largest franchisee and the parent company of Skipper’s and Tony Roma’s, said it decided to withdraw its proposal following discussions with a special advisory committee made up of members of the board and First Boston.
It is unclear what will become of two shareholder lawsuits that were filed to block the initial plan.
In late October, O. Gene Bicknell, chairman and chief executive, James K Schwartz, president and chief operating officer, and Troy D. Cook, vice president of finance, said they wanted to acquire all of the publicly held company’s common stock.
Bicknell owns 62 percent of the company.
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