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News Breaks
March 21, 2014
08:01 EDTCBRLCracker Barrel mails definitive proxy for special meeting
Cracker Barrel Old Country Store commenced mailing of its proxy statement for the Company's Special Meeting of shareholders to be held on April 23. In a letter to shareholders, Sandra B. Cochran, Cracker Barrel's President and CEO, addressed a number of claims made by Biglari Capital. Ms. Cochran urged shareholders to vote against the proposals brought forward by Biglari Capital for the Board to (1) immediately pursue all potential extraordinary transactions, including the sale of the company, and (2) take any action necessary to amend the Tennessee Business Corporation Act to permit Biglari Capital to engage in an extraordinary transaction with the company. In the letter, Ms. Cochran stated, “The Board unanimously believes that seeking an immediate sale of the company, as advocated by Biglari’s proposal, is not in the best interests of the company’s shareholders in light of current market conditions and the company’s sustained strong performance.” Commenting on the call to amend Tennessee state law, Ms. Cochran said, “…the Board does not have the power to amend Tennessee law. In addition, the Board believes that the interests of all shareholders are best served by the management team continuing to focus on the execution of the company’s current operational and strategic plan, rather than engaging in a time-consuming and potentially expensive lobbying effort.”
News For CBRL From The Last 14 Days
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November 11, 2014
10:00 EDTCBRLOn The Fly: Analyst Downgrade Summary
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06:37 EDTCBRLCracker Barrel downgraded to Hold from Buy at Miller Tabak
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