Insurer Rejects Steak N Shake Bid

The board of a Michigan insurance company has rejected a takeover bid by Indianapolis-based Steak n Shake. Fremont Michigan InsuraCorp Inc. today said the burger chain's "hostile takeover attempt" isn't in the best interest of the company or its stakeholders. Instead, the board said the company's strategic plans represent a better long-term value for shareholders.

 

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