Biglari Holdings Ordinary Shs Class B C.BH

Primary Symbol: BH Alternate Symbol(s): BH.A

Consumer Cyclical Restaurants

Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance, licensing and media, restaurants, and oil and gas. The Company’s restaurant operations are conducted through two subsidiaries: Steak n Shake Inc. (Steak n Shake) and Western Sizzlin Corporation (Western Sizzlin) for a combined 492 units. Its insurance activities are conducted through two insurance entities, First Guard Insurance Company and its affiliated agency, 1st Guard Corporation (First Guard), and Southern Pioneer Property & Casualty Insurance Company and its affiliated agency, Southern Pioneer Insurance Agency, Inc. (Southern Pioneer). Its insurance businesses provide insurance of property and casualty. The Company's oil and gas operations are conducted through two entities, Abraxas Petroleum Corporation (Abraxas Petroleum) and Southern Oil Company (Southern Oil). Abraxas Petroleum operates oil and natural gas wells.

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Biglari Holdings Ordinary Shs Class B

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Comment by eebleron Dec 09, 2009 10:28pm

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Post# 16571592

RE: Notice of Motion

The "Jewitt Affidavit" suggests a commitment of at least $26m is required to buy in. Doesn't mean $26m up front, just that a whole bunch of debt has to be agreed to be repaid in order to match what look to be current commitments. Cash offer may actually be minimal. $500K deposit to be held in trust must accompany the offer.

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