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California Pizza Agrees to $470 Million Bid From Golden Gate

California Pizza Kitchen Inc., operator of the restaurant chain of the same name, agreed to a $470 million takeover by Golden Gate Capital Corp., more than a year after beginning a search for a suitor.

The per-share price is $18.50, the companies said today. That’s 11 percent more than yesterday’s close. Golden Gate is paying about 7.7 times earnings before interest, taxes, depreciation and amortization, matching the median of 5 restaurant takeovers over the past year, according to data compiled by Bloomberg.