Hedge Fund Said to Oppose Benihana Plan
Friday, February 19, 2010 : PermalinkNY Times – It appears that resistance is growing to a plan by the managers of Japanese steakhouse Benihana to raise money through a share sale.
The New York Post recently reported that the heirs of the restaurant chain’s late founder, Rocky Aoki, were coming out against a management’s plan to issue 12.5 million shares, saying it the move would dilute their stock.
Now, The Post says, hedge fund Coliseum Capital, which holds 9.9 percent of Benihana’s Class A shares, is also speaking out against the move.
