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As PF Change Goes Private, Could Rivals Attract Bids?


On Tuesday restaurant stocks landed front and center on the Fast Money trader radar after PF Chang inked a lucrative buyout deal.

Centerbridge, a private equity firm that owns restaurant holding company CraftWorks Restaurants & Breweries, agreed to pay $51.50 per share for P.F. Chang's -- a 30 percent premium to the stock's closing price on Monday.

Now the Street wants to know – could another restaurant company attract a similar bid?

If Tuesday's price action is any indication, Cheesecake Factory and Red Robin may be two likely candidates.

And Piper Jaffray analyst Nicole Miller Regan tells us the speculation is well warranted.

Both companies have the same appeal that PF Chang has for Centerbridge - and that is, “opportunity to grow their base in a joint venture internationally, and the ability to sell products on a license basis in grocery stores."

" That’s very attractive to private equity,” Regan says.





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Trader disclosure: On May 1, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Keith McCullough is long GLD; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long JNPR; Joe Terranova is long NXPI; Joe Terranova is long JPM; Joe Terranova is long JOY; Joe Terranova is long HPQ; Joe Terranova is long LQD; Tim Seymour is long BAC; Tim Seymour is long SBUX; Tim Seymour is long FCX; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami is long AGU; Steven Weiss is long AIG; Steven Weiss is long QCOM

For Timothy Rezvan
Sterne, Agee & Leach, Inc. makes a market in the following subject company Chesapeake Energy Corp: CHK
Sterne, Agee & Leach, Inc.'s research analysts receive compensation that is based upon various factors, including Sterne, Agee & Leach, Inc.'s total revenues, a portion of which is generated by investment banking activities.
Sterne Agee & Leach, Inc. expects to receive or intends to seek compensation for investment banking services from the subject company and/or companies in the next three months.

Nicole Miller Regan
The following companies have been investment banking clients of Piper Jaffray during the past 12 months: BBRG
The following companies have been investment banking clients of Piper Jaffray during the past 12 months: GMCR
Other material conflicts of interest for Nicole Miller Regan or Piper Jaffray regarding companies in my universe for which I am aware include: GMCR: underwriting
Piper Jaffray received non-investment banking securities-related compensation from the following companies during the past 12 months: SONC
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: BAGL
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: BBRG
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: BJRI
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: CAKE
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: CCSC
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: GMCR
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: PEET
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: PFCB
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis PNRA
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: RRGB
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: RUTH
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: SBUX
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: SONC

CNBC.com with wires.

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Price
 
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CAKE
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RRGB
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