Biglari Holdings Inc (NYSE:BH) is facing new resistance from Cracker Barrel (NYSE:CBRL) as the proxy battle at that company continues. The board has decided to implement a 20% poison pill in order to make it less appealing to investors including Biglari who is seeking greater control of the company. Biglari wants at least one position on the board and has been adding to his stock in the company. He now holds 16% of the shares. Last year Biglari owned 9.9% of the the company but was rejected in his petition to gain a seat on the board. At the same meeting the shareholders…
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