The Humane Society of the United States bought $2,000 worth of Steak n Shake stock this week in hopes of getting the company
to work with food producers that use humane farming methods.
Steak n Shake Co. CEO Sardar Biglari bought $290,000 worth of stock in the Indianapolis-based burger chain last week in another
big bet
the company’s shares are undervalued.
The company’s return to profitability under CEO Sardar Biglari can’t be overlooked. But neither can strong signals
that Steak n Shake’s CEO is using the venerable restaurant chain as a cash machine to finance his
bigger goals.
A small Michigan insurer has rejected an acquisition bid from The Steak n Shake Co., describing the offer as a “hostile takeover
attempt.”
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.
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.
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.
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.
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.
Should Biglari take Landesman’s remarks as praise where he can get it, or consider them an insult?
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.”
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 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.
The Steak n Shake Co. said it plans to acquire the Western Sizzlin restaurant chain in a deal valued at $23 million.
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.
The Texas investor running the chain doesn’t seem like such a champion of transparency these days.
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 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.
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.
Less than three months after hiring a new advertising agency, Steak n Shake has jettisoned and is now suing Georgia-based The Varnson Group.
