Dealboard: selected merger and acquisition activity

Nation's Restaurant News, Feb 25, 2008

DEALBOARD
SELECTED MERGER AND ACQUISITION ACTIVITY

TARGET:     Dave & Buster's (49 locations)

SELLER:     Wellspring Capital Management LLC
ACTION:     Reports claim seller has hired Jefferies & Co. to
            explore a sale of the dining and entertainment chain.
STATUS:     First-round bids reportedly due by end of the month.
COMMENTS:   Dave & Buster's and Wellspring reps had no comment;
            Jefferies did not return calls.
            Original stories ran in Mergermarket and The Deal.com.
            3rd-Q results: Revenue of $123.7 million; net loss of
            $11.3 million; adjusted EBITDA of $12.4 million.

TARGET:     Landry's Restaurants Inc.

ACQUIRER:   Tilman J. Fertitta, Landry's chairman and CEO
ACTION:     Law firms have initiated "investigations" into
            Fertitta's offer. Firms cited analyst reports that
            said the offer was "too low."
STATUS:     A special committee is reviewing the proposal and
            any other offers.
COMMENTS:   Fertitta owns about 39 percent of Landry's shares.
            Proposal totals about $1.3 billion, including a
            buyout of outstanding shares at $23.50 per share
            (about $380 million) and the assumption of debt
            (about $900 million).

TARGET:     Wendy's International Inc.

ACTION:     Suitor and investor Nelson Peltz is seeking control
            of Wendy's board with the nomination of six
            executives. The move could force Wendy's to end
            its strategic review, which among other options is
            exploring a buyout bid by Peitz's Triarc Cos. Inc.,
            the Arby's owner.
STATUS:     Wendy's shareholder meeting is typically in April.
COMMENTS:   Wendy's said last month that its strategic review
            is in "the final stages." The company did not
            comment on Peltz's latest moves.