Williston Holding Company, Inc. entered into a merger agreement to acquire remaining 20% stake in Mexican Restaurants Inc. for $2.8 million.

Williston Holding Company, Inc. (OTCPK:WHCA) entered into a merger agreement to acquire remaining 20% stake in Mexican Restaurants Inc. (OTCPK:CASA) for $2.8 million on March 18, 2014. Under the terms of agreement, WHCA will pay $4.06 for each Mexican Restaurant's share. This merger is expected to close within 45 to 60 days.

Following the merger, Williston Holding Company, Inc. will own 100% of Mexican Restaurants Inc. The transaction is subject to approval by majority of shareholders of Mexican Restaurants. Williston, the owner of 80% the stake intends to vote in favor of the transaction. The shareholders' meeting is to be held on May 7, 2014.

Computershare, Inc. acted as the transfer agent and paying agent for Mexican Restaurants Inc. Maslon Edelman Borman & Brand LLP acted as the legal advisor for Mexican Restaurants Inc.