Recent Updates — NATH

Smithfield Foods, Inc. has completed its acquisition of Nathan’s Famous, Inc., merging the company into a subsidiary and taking it private. At the effective time on October 26, 2026, each outstanding share of common stock was canceled and converted into $102.00 in cash, less applicable withholding taxes. The transaction triggered a change in control, resulting in the delisting of Nathan’s Famous from Nasdaq and the termination of its SEC reporting obligations. All directors ceased their roles, and the company's certificate of incorporation and by-laws were amended and restated. Nathan’s Famous operates as a manufacturer and distributor of hot dogs, sausages, and related food products.

Stockholders of Nathan’s Famous, Inc. approved the proposed merger agreement with Smithfield Foods at a special meeting held on October 23, 2026. The Merger Proposal received approximately 98.6% approval (3,229,773 votes for), while the advisory compensation proposal passed with roughly 71.5% support. The transaction involves Nathan's Famous surviving as a wholly-owned subsidiary of Smithfield Foods. Nathan’s Famous operates in the food service industry and is best known for its hot dog brands.

Nathan’s Famous filed an 8-K to voluntarily supplement its definitive Proxy Statement regarding the proposed merger with Smithfield Foods, Inc. The filing discloses that no executive officers have reached agreements for post-merger employment or equity participation and provides additional valuation context from financial advisor Jefferies LLC, including discounted cash flow analysis implying a per-share value range of $95.35 to $124.60 compared to the $102.00 merger consideration. This disclosure follows lawsuits filed by purported stockholders alleging that earlier proxy statements were false and misleading, seeking to enjoin the transaction. The special meeting to vote on the merger is scheduled for October 23, 2026. Nathan’s Famous operates a chain of hot dog stands and restaurants known for its signature frankfurters.

Nathan's Famous, Inc. reported first fiscal quarter results for the period ended June 28, 2026, showing revenues increased to $54.1 million from $47.0 million in the prior year. Net income was $8.8 million, or $2.14 per diluted share, compared to $8.9 million and $2.16 per share previously. The company is proceeding with its merger agreement with Smithfield Foods, Inc., which values Nathan's at approximately $450 million ($102.00 per share in cash). Completion remains contingent on stockholder approval and CFIUS clearance, with closing expected in the second half of 2026. The company operates in the food service industry, specializing in hot dog manufacturing, licensing, and restaurant operations.

Nathan's Famous, Inc. issued a press release on June 9, 2026, announcing its financial results for the fourth fiscal quarter and fiscal year ended March 29, 2026. The company is in the restaurant and food service industry.