Saturday, May 8, 2010

Clarifying who's not involved

About two months ago, i speculated here that investor Sardar Biglari may be an unnamed co-conspirator in the effort to take control of Denny's board. Biglari, after all, had used a similar strategy to add Steak n Shake to his holdings. One of his advisors in that takeover, Jonathan Dash, had been one of the three dissident shareholders who were making the run on Denny's director seats.

Today Biglari's company, Biglari Holdings, issued this statement on the matter:
Biglari Holdings Inc. wishes to apprise its shareholders as well as Denny's stockholders that we have absolutely no involvement in Denny's Corporation (Nasdaq:DENN - News). Without our approval, references to our company, including its subsidiaries, contain misinformation. However, we do not intend to correct any of these errors.

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