Carl’s Jr. owner CKE says rival bid is superior to THL’s

CKE Restaurants Inc., operator of the Carl’s Jr. and Hardee’s chains, said a takeover offer it received this month is superior to the terms it agreed to in February with Thomas H. Lee Partners.

The new bidder, which was not identified, offered $12.55 a share, Carpinteria-based CKE said Tuesday. The offer would be worth $639.9 million, based on the number of CKE shares outstanding as of March 17, according to Bloomberg data.

THL Partners had offered $11.05 in cash for each share of CKE common stock and also agreed to assume about $309 million in debt. The restaurant company said it notified THL Partners Monday that it intended to end the earlier merger agreement.