Steak ‘n Shake changes it name to Biglari Holdings
Restaurant operator Steak n Shake Co. is getting a name change that reflects the grand ambitions of its chairman.
Shareholders on Thursday approved a proposal to rename the company Biglari Holdings Inc., a nod to the current chairman, Sardar Biglari. The stock will now trade under the ticker “BH” on the New York Stock Exchange, instead of Steak n Shake’s current symbol, “SNS.”
The change, which takes effect Friday, reflects the company’s effort to transform itself from a restaurant operator into a broad holding company that owns a range of businesses.
It also shines a spotlight onto Biglari, 32, a longtime follower of Berkshire Hathaway investing guru Warren Buffett.
Since becoming chairman about two years ago, Biglari has made a series of moves suggesting he wants to mimic his investing hero.
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