Applebee’s could pay $60M if IHOP deal stalls

OVERLAND PARK Kan. The merger agreement between Applebee’s International Inc. and its pending acquirer, IHOP Corp., calls for Applebee’s to pay IHOP $60 million should it back out of the deal, according to a Wednesday night filing with the Securities & Exchange Commission.

The pending $2.1 billion transaction, in which IHOP would purchase Applebee’s for $25.50 per share, is subject to approval by Applebee’s shareholders, customary closing conditions and

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