Cracker Barrel shareholders reject third Biglari board bid

Cracker Barrel shareholders reject third Biglari board bid

Shareholders once again voted against giving a seat to the activist investor

Cracker Barrel Old Country Store Inc. shareholders voted decisively against activist investor Sardar Biglari’s third bid for board seats and rejected his proposal for a $20-a-share special dividend, the company said Wednesday.

The Lebanon, Tenn.-based full-service restaurant operator said preliminary results indicate about 70 percent of shares were in favor of the company’s board slate and rejected Biglari and Phil Cooley as directors.

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