Planet Hollywood International, Inc. Completes the Initial Offering Period of Its Tender Offer and Will Acquire Control of BUCA, Inc.; Announces Subsequent Offering Period
Wednesday, September 10, 2008 9:35 AM
Symbols: BUCA

Planet Hollywood International, Inc. (“Planet Hollywood”) announced today that its indirect wholly owned subsidiary, BUCA Financing LLC (the “Purchaser”), has completed the initial offering period of its tender offer for all outstanding shares of common stock of BUCA, Inc. (NASDAQ: BUCA).

The initial offering period and withdrawal rights expired at 12:00 Midnight, New York City time, on Tuesday, September 9, 2008, with a total of approximately 18,006,900 shares of BUCA common stock being validly tendered and not withdrawn (including approximately 293,852 shares subject to guarantees of delivery), representing approximately 84% of all outstanding shares. All shares that were validly tendered and not properly withdrawn on or prior to that time have been accepted for purchase. The Purchaser will promptly issue payment for all such shares, at the offer price of $0.45 per share, net to the seller in cash, without interest and less any required withholding taxes.

Upon acceptance for payment of, and payment for, the tender offer shares, the Merger Agreement grants Planet Hollywood the right to designate a number of individuals to the BUCA Board of Directors who, following their election, will constitute at least a majority of the BUCA Board of Directors.

Planet Hollywood also announced today that Purchaser has commenced a subsequent offering period to acquire all of the remaining untendered shares of common stock of BUCA. The subsequent offering period will expire at 12:00 Midnight, New York City time, on Friday, September 12, 2008, unless extended. During this subsequent offering period, holders of shares of BUCA common stock who did not previously tender their shares into the offer may do so, and Purchaser will promptly purchase any shares properly tendered, for the same consideration (without interest) paid in the initial offering period of the tender offer. Procedures for tendering shares during the subsequent offering period are the same as during the initial offering period, with two exceptions: (1) shares cannot be delivered by the guaranteed delivery procedure and (2) pursuant to Rule 14d 7(a)(2) under the Securities Exchange Act of 1934, as amended, shares tendered during the subsequent offering period may not be withdrawn. Planet Hollywood and Purchaser reserve the right to extend the subsequent offering period in accordance with applicable law.

After the expiration of the subsequent offering period (or any extension thereof), Planet Hollywood will acquire all of the remaining outstanding shares of BUCA common stock through a merger under Minnesota law.


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