Applebee’s cedes two board seats to Breeden, clears way for possible buyout

Applebee’s cedes two board seats to Breeden, clears way for possible buyout

OVERLAND PARK, KAN. Applebee’s International Inc. has defused a looming proxy battle with dissident shareholder Richard C. Breeden by giving him and one of his nominees seats on its board of directors—a move that one analyst said could clear the way for a sale of the casualdining giant. —

After reaching an agreement late last month with Breeden’s hedge fund, Breeden Capital Management LLC, which holds a 5.4-perc

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