Carrols: No Meat Left On This Bone, Sell [Seeking Alpha]
Carrols Restaurant Group, Inc. (TAST)
Last carrols restaurant group, inc. earnings: 2/25 07:00 am
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US:NASDAQ Investor Relations:
investor.carrols.com/investor-relations
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Source: Seeking Alpha
The transaction is expected to be completed in the second quarter of 2024, subject to anti-trust regulations and shareholder approval. Investors who bought shares of Carrols should sell now and consider redeploying their funds elsewhere, as the merger arbitrage spread is not attractive. Back in October, I wrote a bullish article on Carrols Restaurant Group ( NASDAQ: TAST ), noting that Carrols was trading at only $1.4 million of enterprise value per restaurant, a discount to my $1.8 million estimate of replacement value. Therefore, I rated the company a buy. My timing could not have been more fortunate, as a few short months later, Restaurant Brands International Inc. ( QSR ), the parent company of Burger King, announced a tender offer for Carrols shares it did not already own, allowing my buy thesis to realize a quick 69% return (Figure 1). Strategic Rationale For Transaction According to QSR's press release, the strategic rationale for the transaction is to accelerate Car
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TAST
News
- Carrols Restaurant Group, Inc. (NASDAQ: TAST) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Carrols Restaurant Group, Inc. (NASDAQ: TAST) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Traditional Fast Food Stocks Q3 Recap: Benchmarking Carrols (NASDAQ:TAST) [Yahoo! Finance]Yahoo! Finance
- Carrols Restaurant Group, Inc. (NASDAQ: TAST) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- TAST Alert: Monsey Firm of Wohl & Fruchter Renews Investigation of the Proposed Sale of Carrols Restaurant Group to Restaurant Brands InternationalGlobeNewswire
TAST
Earnings
- 11/9/23 - Beat
TAST
Sec Filings
- 4/19/24 - Form SC
- 4/12/24 - Form SC
- 4/12/24 - Form DEFM14A
- TAST's page on the SEC website