Cracker Barrel agrees to special shareholder meeting


Cracker Barrel (CBRL) takes some shots at Sardar Biglari and his quest to call a special meeting of shareholders.

Though the company has agreed to set the meeting after conceding the activist investor will gain the 20% threshold required, it notes rather caustically that Biglari has failed three times in his bid to land a board seat and continues to be a distraction.

"It is hard to avoid the conclusion that Mr. Biglari is now just engaged in harassment of the Company."

The special meeting will occur on April 23.

PR

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Comments (2)
  • Joewh
    , contributor
    Comment (1) | Send Message
     
    Cracker Barrel has a good product but lacks the management skill to increase company value. Biglari is skilled and needs to be on the board.
    21 Jan 2014, 10:35 AM Reply Like
  • RJM2
    , contributor
    Comments (1008) | Send Message
     
    I agree but its not happening.

     

    At this point, its just about if he can get 30.02% more to vote for pursuing a deal of some kind.

     

    If he gets the votes, the board doesnt have to act...certainly not anytime soon.

     

    I think he just wants to continue agitating them so they buy him out. But, if they didnt think a $20 dividend was prudent, its hard to argue buying his state out would be.
    21 Jan 2014, 03:17 PM Reply Like
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