Friday, November 16, 2007

Cresendo Partners Discloses 8.9% Stake in O'Charley's (CHUX)

In a 13D filing after the close on O'Charley's, Inc. (Nasdaq: CHUX), Cresendo Partners disclosed an 8.9% stake (1,982,724 shares) in the company.

The aggregate purchase price of the 1,982,724 Shares owned in the aggregate by Crescendo Partners is approximately $30,081,243 including brokerage commissions (about $15.17 per share).

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will review its investment on a continuing basis and plan to engage in discussions with management or the Board of Directors concerning the business and future plans of the company.

O'Charley's Inc. is a multi-concept restaurant company that operates or franchises a total of 363 restaurants under three brands: O'Charley's, Ninety Nine Restaurant, and Stoney River Legendary Steaks.

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