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RDG Capital Offers to Buy Benihana

(Reuters) – Russell Glass, founder and head of New York investment firm RDG Capital, has offered to buy the Japanese-themed restaurant Benihana Inc (BNHN.O) for $7 a share, the NY Post said, citing a person familiar with the matter.

Benihana shares closed on Monday at $5.88. The deal values the company at $20.1 million, the Post said.

Glass, a former executive with Icahn Associates, made the offer on Thursday to Benihana Chief Executive Officer Richard Stockinger and Chairman Darwin Dornbush. He stated that he was willing to buy the restaurant chain with the backing of private equity partners, the paper said.

The offer would cover the company’s outstanding common and Class A shares, the paper said.

Reuters was unable to reach the company and Russell Glass for comment outside normal U.S. business hours. (Reporting by Amulya Nagaraj in Bangalore; Editing by Lisa Von Ahn)