OSI increases merger offer

OSI Restaurant Partners Inc., parent company to Bonefish Grill and Outback Steakhouse, announced Tuesday it's amended its agreement and plan of merger with Kangaroo Holdings Inc. and Kangaroo Acquisition Inc., boosting from $40 (€29.73) to $41.15 (€30.59) per share the amount of compensation stockholders would receive for their shares.

The latest offer represents a 27 percent premium over the closing price of a share of OSI common stock on Nov. 3, 2006, the last trading day prior to announcement of the merger.

Kangaroo Holdings is controlled by an investor group comprised of investment funds associated with Bain Capital Partners LLC, and investment funds affiliated with Catterton Management Co. LLC.

OSI's founders and certain members of its management are expected to exchange shares of OSI's common stock for shares of Kangaroo Holdings in connection with the merger.

OSI's

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OSI increases merger offer