Advisers disagree on Applebee’s-IHOP deal

OVERLAND PARK Kan. Two stockholder advisory firms issued opposing assessments on Thursday of the pending $2.3 billion acquisition of Applebee’s International Inc. by IHOP Corp., with one advising Applebee’s shareholders to vote for the deal and the other recommending the purchase be opposed.

 

Both assessments pivoted on a comparison of the $25.50-per-share buyout proposal with the “stand-alone” recapitalization strategy that

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