Cracker Barrel looks to block activist investor

Cracker Barrel looks to block activist investor

Poison pill enacted as Biglari Holdings gains regulatory approval to acquire up to 49.99%

This story has been updated to include a Sept. 23rd statement from Biglari Holdings chairman Sardar Biglari.

Biglari Holdings Inc., a 9.3-percent stakeholder in Cracker Barrel Old Country Store Inc. has gained regulatory approval to acquire up to 49.99 percent of the restaurant company’s shares, a move Cracker Barrel’s board quickly worked to avoid with the adoption of a poison pill.

Lebanon, Tenn.-based Cracker Barrel said Friday it approved a sh

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