Shareholders approve OSI Restaurant's merger with group led by Bain Capital, Catterton Management

By Lisa Kerner

Charlotte, N.C. June 5 - OSI Restaurant Partners, Inc. stockholders adopted the Nov. 5, 2006 amended agreement and plan of merger with Kangaroo Holdings, Inc. and Kangaroo Acquisition, Inc. that gives OSI stockholders $41.15 per share in cash.

The transaction is expected to close on or before June 19, according to a company news release.

OSI adjourned its May 25 special meeting to June 5 to give its stockholders time to review the changes to the agreement.

Under the original merger agreement, OSI stockholders would receive $40.00 per OSI share in cash in a transaction valued at $3.2 billion.

Kangaroo Holdings includes Bain Capital Partners, LLC and Catterton Management Co., LLC.

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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