Rubio's rejects takeover bid

Rubio's rejects takeover bid
Tags: Fresh Mex
October 23, 2008

CARLSBAD, Calif. —The board of directors of Rubio's Restaurants Inc. has rejected the unsolicited acquisition proposal it recently received from Kelly Capital, the company announced.

"In the board's judgment, Kelly Capital's proposal significantly undervalues our core business and operating plan," said president and chief executive officer Dan Pittard. "We remain committed to growing and improving the company's business and building value for all of our stockholders."