DLA Piper represented global restaurant operator P.F. Chang’s China Bistro, Inc. in its definitive merger agreement with Centerbridge Partners, L.P., a leading private investment firm. The transaction, which is valued at approximately $1.1 billion, will result in P.F. Chang’s becoming a private company.

Under the terms of the merger agreement, which has been approved by P.F. Chang’s board of directors, Centerbridge will acquire all of the outstanding shares of P.F. Chang’s common stock for $51.50 per share in cash. This represents a premium of approximately 30 percent over the average closing share price of P.F. Chang’s common stock for the 30 days ended April 30, 2012.

The DLA Piper team, which included lawyers in the firm’s San Diego, New York and Washington, DC offices, was comprised of Jay Rains, Jeffrey Thacker, Daniel Eisner, Theodore Altman, Jamie Knox, David Clark, Jon Olsen and Max Barker (Corporate); Mark Muedeking and Paolo Pasicolan (Employee Benefits); and Paolo Morante (Antitrust).