Tuesday, Taco Cabana Inc. shareholders approved the merger withCarrols Corp. The agreement calls for Carrols to purchase, forcash, all outstanding shares of Taco Cabana Inc., at $9.04 pershare.
The merger will not affect expansion plans, David Lloyd of TacoCabana. The company is planning to open seven more locations inexisting markets in Texas and Arizona.
Taco Cabana, headquartered in San Antonio, pioneered the Mexicanpatio café concept in 1978 and added the idea of turning it into a24-hour operation. The company went public in 1992 and last granteda franchise in 1993. The company currently operates 126 restaurantsin Dallas, Houston, San Antonio, Austin, Oklahoma City andPhoenix.
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