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Steak n Shake Parent Again Offers To Buy Michigan Insurer

The parent company of Steak n Shake restaurants has its sights set once again on Fremont Michigan InsuraCorp.

By Chad Hemenway | Updated on January 02, 2011

NU Online News Service, Jan. 3, 3:53 p.m. EST

The parent company of Steak n Shake restaurants has its sights set once again on Fremont Michigan InsuraCorp.

Biglari Holdings, headed by Sardar Biglari, 32, tried to take over Fremont late in 2009 and made another offer in October to acquire Fremont for $29 per share. Mr. Biglari’s latest offer is $31 per share in cash, a move he said “provides certainty, liquidity, and full and fair value for the shareholders of Fremont.”

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