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Peltz cleared to buy stake in Cheesecake Factory

CALABASAS HILLS Calif. Shares in The Cheesecake Factory Inc. soared in price on Wednesday following news that activist investor Nelson Peltz was cleared by the Federal Trade Commission to buy a stake in the casual-dining chain.

Although Peltz’s intentions were not disclosed, Cheesecake said in a statement that executives had already opened a “preliminary dialogue” with the Peltz holding that sought permission to buy the stake, and that the conversation would be

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