Fast food chain Bojangles said on Tuesday it would be taken private by investment firms Durational Capital Management LP and Jordan Co for $593.7 million.

Bojangles shareholders will receive $16.10 in cash for each share they hold, representing a 15 percent premium to the stock's price in September, before Reuters reported that the company was exploring alternatives including a sale.

Based on Monday's closing price, the per-share acquisition price represents a premium of 0.6 percent.

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