Wagamama parent gets offer feelers from PizzaExpress owner
Adds background on company struggles, details on Wheel's proposal in paragraph 2
Oct 26 (Reuters) - The Restaurant Group RTN.L said on Thursday it had received a request for information from PizzaExpress Group owner Wheel Topco Limited to evaluate a possible offer, weeks after it agreed to be taken private by Apollo Global APO.N.
The Wagamama owner, which has been struggling with falling margins amid soaring costs and sluggish recovery post-pandemic, will consider Wheel's proposal, the company said in a statement, adding that there had been no indication of a possible offer.
The Restaurant Group on Oct. 12 had agreed to be taken private by private equity firm Apollo Global APO.N for 506 million pounds ($611.05 million).
It also faced pressure from shareholders and activist investors Irenic Capital and Oasis Management in recent months to change management and improve profitability.
($1 = 0.8281 pounds)
(Reporting by Radhika Anilkumar in Bengaluru;Editing by Nivedita Bhattacharjee)
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