Why a Suggested Sale Has Shares of Del Frisco's Restaurant Popping 12% Thursday [The Motley Fool]
DEL FRISCOS RESTAURANT (DFRG)
Last del friscos restaurant earnings: 8/6 07:00 am
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Source: The Motley Fool
A large Del Frisco Restaurant Group shareholder is suggesting management explore strategic alternatives -- but is that the right move? Daniel Miller ( TMFTwoCoins ) Dec 6, 2018 at 12:56PM What happened? Shares of Del Frisco's Restaurant Group ( NASDAQ:DFRG ) , owner and operator of high-end restaurant concepts that include Del Frisco's Double Eagle Steakhouse, Sullivan's Steakhouse, and Del Frisco's Grille, are up 12% as of 11:51 a.m. EST after Engaged Capital urged the company to explore a sale. So what Engaged Capital, a hedge fund that owns just under 10% of DFRG's outstanding shares, drafted a letter that urged management to correct prior strategic missteps that deteriorated value by hiring financial advisors and a strategic review committee to explore a potential sale. The core of Engaged Capital's issue is that the restaurant chain has hig
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