Boston-based Private equity firm Thomas H. Lee Partners' bid of nearly $920 million to buy CKE Restaurants Inc in Carpinteria finally got a nod from the target company on Friday.

The acquirer would pay CKE Restaurants $619 million in cash and it would assume a total debt of $309 million for full settlement. The deal, however, has created a little hush among market analysts who were expecting the target company to wait for at least one more upwardly revised offer from the PE firm.

The deal, as proposed, values CKE Restaurants at $11.05 per share, providing for a 24 per cent premium over the companies closing stock price of $8.91 on Nasdaq on Friday. The company's stock price was on a roll for nearly 40 days now after it unveiled that it was looking for viable offers. Share price rose nearly 26 per cent since then.

Owner of the Carl's Jr. brand CKE Restaurants is a chain of gourmet burger restaurants and it sells bigger burgers with relatively offbeat toppings. The particular category is currently one of the fastest growing in the private restaurant market.