LAWFUEL – Law News Network – Yesterday, Buffets Inc., the leading owner and operator of buffet-style restaurants and one of the portfolio companies of our long-standing private equity client, Caxton-Iseman Capital, Inc., entered into a merger agreement to acquire Ryan’s Restaurant Group, Inc., the leading publicly traded buffet operator, for $16.25 in cash for each outstanding share of Ryan’s common stock. The total value of the transaction, including Buffets’ assumption of Ryan’s debt, is expected to be approximately $876 million at closing. Caxton-Iseman has been a firm client for more than 10 years, and Paul, Weiss represented Caxton-Iseman in the transaction in which it acquired Buffets in 2000. Since then the firm has represented Buffets in a number of major financing, securities and other transactions. Buffets expects the transaction to close in the fourth quarter of 2006. The transaction was reported by the Daily Deal, Dow Jones and Mergerstat Review. Paul, Weiss team included M&A lawyers Carl Reisner, Sarah Mudho, Frank Steinherr and summer associate Adam Miller; finance lawyers Eric Goodison and Gary Li; and securities lawyers John Kennedy and Brett Nadritch. The team also included tax lawyers Rick Bronstein and Alexander Woods; real estate lawyers Peter Fisch and Yossi Subar; employee benefits lawyers Rob Fleder and Reuven Falik; environmental lawyer Bill O’Brien; intellectual property lawyers Claudine Meredith-Goujon and Patricia Harley; and corporate lawyer Melissa Manfro.