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Stock Market & Financial Investment News

News Breaks
November 16, 2012
18:42 EDTUNAM, BHUnico American issues statement regarding Biglari
Unico American Corporation (UNAM) announced that it has received inquiries and concerns from a number of its shareholders, the media and members of the general public about information contained in the Schedule 13D form filed by Sardar Biglari for Biglari Holdings (BH), with the SEC earlier this week. In the interest of continuing its tradition of providing complete, unambiguous and timely disclosure to the public, Unico's management elected to issue this announcement: "Unico's management and its board of directors did not receive any tangible or credible proposal or description about 'ways of maximizing shareholder value' with respect to Unico from Sardar Biglari, Biglari Holdings Inc., or any representative thereof. Also, Unico's management and its board of directors did not share any substantive communication with Sardar Biglari, Biglari Holdings Inc., or any representative thereof. Except as required by law, Unico's management and its board of directors does not engage in substantive private communications that might reasonably be characterized as containing insider information unless it has first established a nondisclosure agreement that is acceptable to it. Unico has not received an acceptable nondisclosure agreement from Sardar Biglari, Biglari Holdings Inc., or any representative thereof."
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