Advertisement

BRIEFLY

November 11, 1987

Newport Beach businessman Anwar Soliman has withdrawn his $98 million, $17-a-share--offer to acquire Restaurant Associates Industries, officials of the New York-based restaurant and newsstand chain announced. Soliman has been vying for control of the company since August in a bidding war with a group of Restaurant Associates' executives. On Oct. 27, the company's board approved a $14.25-a-share, $82-million buyout offer from the management group. Soliman, chairman of American Restaurant Group, could not be reached for comment.

Advertisement
Los Angeles Times Articles
|
|
|