Sardar Biglari Releases Highly Confident Letter on Cracker Barrel’s $20/Share Special Dividend

Sardar Biglari, Cracker Barrel: In a new amendment to his 13D filing on  Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), Sardar Biglari and Biglari Capital reiterated a 19.8% stake in the restaurant chain. Biglari has been a large shareholder in Cracker Barrel for some time now, and the purpose of this filing was to disclose the following text:

“On October 24, 2013, Sardar Biglari sent a letter to James W. Bradford, Chairman of the Board of the Issuer. Mr. Biglari disclosed that his affiliates have obtained a highly confident letter from Jefferies LLC regarding its ability to provide financing for the proposed $20 per share special dividend subject to the terms and conditions set forth therein.  Mr. Biglari’s letter along with Jefferies’ highly confident letter are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.”

Stay tuned for a look at both letters.

UPDATE: Here’s both attachments:



Cracker Barrel (CBRL)

Disclosure: none