Home Stocks Sardar Biglari Wins Again

Sardar Biglari Wins Again

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

Sardar Biglari of Biglari Holdings has done it.

All this comes after the small fund Groveland Capital took a 0.17% stake and waged a proxy fight over its governance. With a tender offer, Sardar has eliminated any risk of a proxy battle next year, now controlling close to half of the Biglari shares.

His hedge fund style running of Biglari Holdings will continue, including the licensing of his own name for 20 years for Biglari and Steak n Shake.

All this comes as Sardar owns less than 2% of Biglari Holdings himself.

The few independent board members offers no insight or opinion on the tender offer and Sardar’s control taking, saying, “based on the potential for a conflict of interest resulting from the company’s ownership of limited partnership interests in the purchaser, the independent directors unanimously voted to recommend that the board express no opinion and remain neutral with respect to the offer.”

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.