Steak N Shake to merge with Western Sizzlin
A year ago, I remember thinking about this exact possibility, that Steak N Shake (NYSE:SNS) and Western Sizzlin (NASDAQ:WEST) could merge. Here’s what I said: One thing I’m wondering is whether we’ll...
View ArticleSardar Biglari Builds His Stake in Steak n Shake
David J. Reynolds of the WSJ reports that Sardar Biglari purchased $1.1M in Steak N Shake (NYSE:SNS) shares last week: Steak n Shake recently disclosed plans to purchase Western Sizzlin, a steak...
View ArticleSteak N Shake: Armed and ready to raid?
The Indy Star has a new article by Ted Evanoff about the merger between Steak N Shake (NYSE:SNS) and Western Sizzlin (NASDAQ:WEST): If past takeover attempts by Steak n Shake’s new chairman and chief...
View ArticleSardar Biglari buys 9.9% of Fremont Michigan InsuraCorp (FMMH)
After Steak N Shake (NYSE:SNS) reorganized as a holding company I knew that it was only a matter of time before he started to use the company’s free cash flow to target investments outside of...
View ArticleMatt Miller on Fremont Michigan InsuraCorp (FMMH)
Matt Miller of Chanticleer Advisors has a nice write up on Fremont Michigan InsuraCorp (OTC:FMMH) Give it a read: A Find in Freemont (PDF) I’m going to start reading Fremont’s filings so I can get a...
View ArticleSardar Biglari: The Restaurant Investor
Max Olson of Future Blind has put together a great article that chronicles the career of Sardar Biglari, CEO of Steak N Shake (NYSE:SNS). Be sure to read the full article: From little more than a $1.8...
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Malcolm Gladwell on Entrepreneurship
This week’s New Yorker has a great article (New Yorker digital subscribers click here) by Malcolm Gladwell on entrepreneurship. Gladwell finds that entrepreneurs are actually not the high octane...
View ArticleTrouble in Michigan
Anyone who has followed this blog for a while knows that we are fans of Sardar Biglari and his work at Steak N Shake (now Biglari Holdings). One of Biglari’s goals is to add an insurance operation to...
View ArticleSardar Biglari bids for Fremont Michigan InsuraCorp (Again)
Yesterday, news broke that Texas-based activist value investor Sardar Biglari is bidding again for full control of Fremont Michigan InsuraCorp: Biglari Holdings Inc. (NYSE:BH – News) today announced a...
View ArticleLoeb Capital’s letter to Fremont Michigan InsuraCorp
Looks like Sardar Biglari has gained an ally in his quest to acquire Fremont Michigan. Loeb Capital makes a good argument in favor of the deal. I expect the arbitrage spread to narrow: October 18, 2010...
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