Applebee’s says Breeden rejects peace offering

OVERLAND PARK Kan. Applebee’s International Inc. said an offer to give dissident shareholder Breeden Capital two of the four board seats it is seeking in a proxy challenge has been rejected by the 5-percent stakeholder, setting the stage for continuing conflict.

The two seats offered to the hedge fund would have been additions to Applebee’s current 12-person board. Breeden is vying for four of the current 12 seats, or one-third

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