Insurance company rejects Steak n Shake takeover bid
A small Michigan insurer has rejected an acquisition bid from The Steak n Shake Co., describing the offer as a “hostile takeover
attempt.”
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UPDATE: Steak n Shake turning away from core business
The Steak n Shake Co. is taking a dramatic turn away from its core business with a bid to purchase a Michigan insurer in a
deal valued at almost $37 million.
BREAKING: Steak n Shake offers to acquire Michigan insurer
The Steak n Shake Co. has offered to acquire all of the outstanding shares of Fremont Michigan Insuracorp Inc. in a deal
that could be worth almost $37 million.
UPDATE: Steak n Shake plan makes ‘perfect sense’ to investment pro
The Steak n Shake Co.’s unusual plan to initiate a reverse stock split has the support of at least one local investment
adviser,
if in fact the company’s CEO is attempting to model it after Warren Buffett’s holding company, Berkshire Hathaway.
Steak n Shake plans 20-1 reverse stock split
The Steak n Shake Co., in an unusual gambit, plans to initiate a reverse stock split that would reduce its number of shares
outstanding from almost 29 million to just 1.4 million and boost its per-share price from roughly $12 to $240.
Biglari was persistent in pressing Western Sizzlin deal
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure
of the $39 million transaction.
Steak n Shake and the new NEA chief
Should Biglari take Landesman’s remarks as praise where he can get it, or consider them an insult?
Steak n Shake’s Biglari adds intrigue by buying stake in insurer
The Indianapolis-based company’s CEO revealed earlier this year that he intends to use Steak n Shake as a holding company
that will pursue purchases “either related or unrelated to its ongoing business activities.”
Steak n Shake nearer to merger with steak chain
Under terms of the deal, Steak n Shake will pay Western Sizzlin shareholders $22.9 million and Western will pay its shareholders
a $15.9 million stock dividend, making the total deal worth about $38.8 million.
Steak n Shake chief snaps up more shares
Steak n Shake Co. CEO Sardar Biglari revealed in regulatory filings this week that he spent $1.1 million buying shares in
the locally based burger chain, an apparent vote of confidence in his own turnaround plans.
Steak n Shake acquiring Western Sizzlin
The Steak n Shake Co. said it plans to acquire the Western Sizzlin restaurant chain in a deal valued at $23 million.
Deal returns Steak n Shake to steakhouse biz
The Steak n Shake Co.’s announcement this morning that it plans to purchase Western Sizzlin Corp. for about $23 million
puts the Indianapolis restaurant company back in the steakhouse business for the first time since exiting it nearly a decade
ago.
Biglari consolidates power, as Steak n Shake rebounds
The Texas investor running the chain doesn’t seem like such a champion of transparency these days.
Steak n Shake posts profit, rise in customer traffic
Steak n Shake Co. late yesterday reported strong profit and big increases in customer traffic and same-store sales for its
fiscal third quarter, which ended July 1.
Steak n Shake sales, traffic rise
Steak n Shake Co. yesterday reported big increases in customer traffic and same-store sales for its fiscal third quarter,
which ended July 1. Customer traffic rose 13.4 percent and same-store sales jumped 5 percent in the quarter compared to the
same period a year ago, it said in a brief Securities and Exchange filing.
Steak n Shake hoping to roll out lower-cost, limited-service stores
TV spots for Steak n Shake Co. used to play up the chain’s full-service restaurants, complete with friendly servers, real plates
and glass ketchup bottles—a departure from the "workaraunts" operated by McDonald’s and Burger King. Now, Steak n Shake is developing plans for its own workaraunts.
Steak n Shake nixes $4M contract with ad firm after less than 3 months
Less than three months after hiring a new advertising agency, Steak n Shake has jettisoned and is now suing Georgia-based The Varnson Group.
Activist shakes up Steak n Shake after taking control
After months of agitating for changes at The Steak n Shake Co., investor Sardar Biglari finally got a shot at putting his
theories into action.
Bold bets on Hoosier firms yield horrific results so far
The millions of dollars they plunked down to buy stock in local companies over the past two years have shriveled in value,
leaving them way, way below break-even.
Y&L ad firm making ‘significant’ staff cuts
Young & Laramore is making what it says are “significant” staff cuts in the wake of losing the Steak n Shake account.