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Applebee's reaches truce with Breeden, confirms bids for buyout

OVERLAND PARK Kan. Ending a bitter proxy battle that was to culminate in a shareholder vote May 25, Applebee's International Inc. and activist investor Richard Breeden have reached a settlement in which Breeden and another of his director nominees receive board seats effective today.

Applebee's, which currently is exploring options for the company amid weak sales, slowed traffic and declining profit, also said it had received a number of "non-binding

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