Breeden Scores Nice Win in Applebee’s (APPB) Fight

Posted: April 27, 2007 at 2:42 am

From 13D Tracker

Former SEC-Cheif turned activist investors, Richard Breeden, scored a nice win today on Applebee’s (Nasdaq: APPB). Not only did Breeden and another Breeden nominee Laurence Harris get on the board, but the company announced that its strategic reivew process has yielded several non-binding, preliminary proposals to acquire the company.

Breeden paid about $19.90 per share for his 3.9 million share stake. Today the stock is trading at $26.88. That’s a 35% gain!

Other stocks in Breeden portfolio are Alexander & Baldwin Inc. (Nasdaq: ALEX), Bausch & Lomb Inc. (NYSE: BOL), H&R Block, Inc. (NYSE: HRB), Helmerich & Payne (NYSE: HP), Steris Corp. (NYSE: STE), Walter Industries Inc. (NYSE: WLT) and Warnaco Group (Nasdaq: WRNC).

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