OSI once again postpones special meeting to solicit more votes for investor-led merger; new date is May 22

By Lisa Kerner

Charlotte, N.C., May 14 - OSI Restaurant Partners, Inc. once again postponed its special meeting of stockholders, this time moving the meeting to May 22, from May 15, in order to solicit additional votes. The meeting was originally scheduled for May 8.

At the special meeting, stockholders of record as of March 28 will be asked to vote on the company's proposed merger with an investor group led by Bain Capital Partners, LLC, Catterton Management Co. LLC, OSI's founders and certain members of its management.

The board of directors, on the unanimous recommendation of the special committee, and proxy advisory firms Institutional Shareholder Services and Glass Lewis recommended that OSI's stockholders vote in favor of adopting the merger agreement.

Under the Nov. 6, 2006 merger agreement, OSI stockholders will receive $40 per OSI share in cash in a transaction valued at $3.2 billion, according to a company news release.

OSI is a Tampa, Fla., casual dining restaurants company with a portfolio of brands, including Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar, Roy's, Lee Roy Selmon's, Blue Coral Seafood & Spirits and Cheeseburger in Paradise.

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