NEW YORK (Thomson Financial) - Crescendo Partners II, which together with
affiliates owns about 11.2% of the common shares of O'Charley's Inc., Friday
nominated four people for election to O'Charley's board at the company's annual
shareholders' meeting in 2008.
The nominees are: Douglas Benham, the former president and chief executive
of Arby's Restaurant Group; Anthony Bergamo, a current director of SP
Acquisition Holdings Inc.; Arnaud Ajdler, a managing director of Crescendo
Partners II; and Gregory Monahan, the vice president of Crescendo Partners.
Crescendo, a hedge fund, said it believed O'Charley's shares were
"significantly undervalued." It had previously recommended that the company
considering strategic alternatives to maximize value, including the repurchase
of shares, the exploration of a sale of O'Charley's Stoney River restaurant
concept, or an outright sale of O'Charley's Inc.
Shares of O'Charley's, an operator of restaurant facilities, closed Thursday
at $15.
Ryan Vlastelica
rv/jw
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