TGI Fridays to go public through merger with its U.K. franchisee

TGI Fridays and its U.K. franchisee, Hostmore, announced plans to merge through an all-share deal valued at £177 million ($220 million). The new company will be publicly traded on the London Stock Exchange with the ticker ‘TGIF.’ TGI Fridays closed 36 underperforming restaurants in the U.S. earlier this year. The merger is expected to close in the third quarter, pending regulatory approval. #