Steak N Shake (SNS)

The Steak n Shake Co. became the restaurant industry’s most expensive stock listing on Monday after the company completed a 1-for-20 reverse stock split that left shares closing at $293.00 each.
The company’s reverse split was undertaken to attract “knowledgeable, long-term owners,” said Steak n Shake’s CEO, Sardar Bilgari. Steak n Shake, which posted last week a fourth-quarter jump in sales and profit, is in the process of reorganizing its operations into that of a holding company, and has agreed to acquire another restaurant company, Western Sizzlin’ Co., which also is helmed by Biglari.

Dec 22 · 2:52:00 PM · Source: Restaurant News
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by Rich Pike