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Biglari Holdings Inc. Message Board

  • smaycs4 smaycs4 Nov 5, 2013 5:42 PM Flag

    CBRL & BH keep going higher even though the $20 dividend seems unlikely

    Ideally, BH would be able to sell say 5-10% of their 19.9% for $100+.

    But, if he starts selling in the open market, wouldnt CBRL go down in antcipation of his future sales ?

    I guess what Im saying is it seems BH is "stuck" with an oversized position in CBRL.

    It'd be great if the stock were able to continue higher while he slowly sells. Just not sure how reasonable that is.

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    • What makes you think he is "stuck" with the shares. CBRL does not want him around! There is no question that if he wanted to sell the shares CBRL would buy them ALL at the market price. He is hardly stuck with them

      Sentiment: Hold

      • 1 Reply to beyeloselhi
      • I dont see any reason why they would buy him out now. Sure, they consider him a pest but can they really justify paying anywhere near current market to buy him out when they dont have to ?

        This is the 3rd year in a row he will fail to win a board seat and the dividend is not going to get 50.01%.

        He is "stuck" because he has been unable to cash in any of his profit despite the massive run up in CBRL shares.

        And he has given notice that he will sell if he doesnt win the board seats. (At least some)

    • CBRL is 'stuck' paying Biglari Holdings over $14 MILLION per year in regular dividends. This $14M comes into the treasury, regardless of the $20 special dividend that has been called for by BH.

    • We know CBRL wants Mr. Big out the door...they offered to buy him out several months ago, at a hudge profit. He wisely turned them down. The amount of money he has made on CBRL is truly WOW!

      I don't think BH is stuck...I would characterize it as a great call, almost justifying Mr. Bigs compensation package.

    • I believe I said that a few months ago - actually used the word "stuck" also - and was corrected by you, or some other poster. I believe Sardar can't move forward, can't move backward, can't get on the board, can't get a dividend approved and is stuck.
      Better to be stuck with a stock that has increased in price, rather than a loser.

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