Investor discloses Steak n Shake stake, plans to consider other deals

INDIANAPOLIS An investor group that includes the parent of Lone Star Steakhouse & Saloon disclosed Monday that it has amassed a 9.5-percent stake in family-dining operator and franchisor The Steak n Shake Co. with intentions to “maximize shareholder value” by “exploring an acquisition or other transaction.”

The group's largest investor is Dallas-based hedge fund HBK Investments LP, with an aggregate holding in Steak n Shake of 7.9 percent. The remaining interest is

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