BRIEF-Franchise Group Inc Reports Definitive Agreement To Be Acquired By A Consortium Led By Management Group

Franchise Group Inc: * FRANCHISE GROUP, INC. ANNOUNCES DEFINITIVE AGREEMENT TO BE ACQUIRED BY A CONSORTIUM LED BY MANAGEMENT GROUP

* FRANCHISE GROUP INC - FRANCHISE GROUP COMMON STOCKHOLDERS TO RECEIVE $30.00 PER SHARE IN CASH * FRANCHISE GROUP INC - PROPOSED DEAL FOR ENTERPRISE VALUE OF APPROXIMATELY $2.6 BILLION

* FRANCHISE GROUP INC - TRANSACTION INCLUDES A 30 DAY GO SHOP PROVISION TO SOLICIT SUPERIOR PROPOSALS * FRANCHISE GROUP INC - UPON COMPLETION OF PROPOSED MERGER, FRANCHISE GROUP WILL BECOME A PRIVATE COMPANY

* FRANCHISE GROUP INC - FRANCHISE GROUP'S MANAGEMENT TEAM, INCLUDING BRIAN KAHN, IS EXPECTED TO CONTINUE TO LEAD COMPANY * FRANCHISE GROUP- MEMBERS OF SENIOR MANAGEMENT TEAM, CONSORTIUM TO BUY ABOUT 64% OF CO'S STOCK THAT MANAGEMENT GROUP DOES NOT OWN

* FRANCHISE GROUP- CONSORTIUM GOT DEFINITIVE FINANCING COMMITMENTS FROM THIRD PARTY LENDERS,INSTITUTIONAL INVESTORS,TO FINANCE PORTION OF PURCHASE PRICE Source text for Eikon: Further company coverage: