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TENDER OFFER EXTENDED UNTIL THURSDAY, FEBRUARY 16, 2006
Dallas, TX (February 2, 2006) /PRNewswire-FirstCall/ -- F&H Acquisition Corp., an entity owned by Newcastle Partners, L.P. and Steel Partners II, L.P., announced today that Fox & Hound Restaurant Group (NASDAQ: FOXX) signed and delivered the definitive tender offer/merger agreement with F&H Acquisition Corp. and certain of its affiliates to acquire all of the outstanding shares of common stock of Fox & Hound not already owned by it for $16.30 per share. Fox & Hound announced earlier today that it has terminated its merger agreement with Levine Leichtman.
Fox & Hound's Board of Directors has unanimously approved the merger agreement with F&H Acquisition Corp. and certain of its affiliates. Consummation of the tender offer is subject to customary closing conditions, including there being validly tendered and not withdrawn a number of shares of Fox & Hound, which, together with the shares then owned by F&H Acquisition Corp. and its subsidiaries (including NPSP Acquisition Corp.), represents at least a majority of the total number of shares of Fox & Hound outstanding on a fully-diluted basis and expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
F&H Acquisition Corp. also announced today that it has extended its tender offer for all of the common stock of Fox & Hound not already owned by it or its subsidiaries to 12:00 Midnight, New York City time, on Thursday, February 16, 2006. The tender offer was previously set to expire at 12:00 Midnight, New York City time, on Wednesday, February 8, 2006. As of the close of business on February 1, 2006, a total of 3,800 shares had been tendered in and not withdrawn from the offer.
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