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Board of Directors Takes Action to Protect Long-Term Value for All Stockholders in Response to Significant Third-Party Share Accumulation
Jack in the Box Inc. (NASDAQ:JACK) (the "Company") today announced that its Board of Directors ("the Board") unanimously adopted a limited-duration stockholder rights plan ("the Rights Plan") to protect the interests of all stockholders. The Rights Plan is effective immediately.
The Rights Plan was adopted in response to the accumulation of the Company's stock by Biglari Capital Corp., which privately informed the Company that it now owns 9.9% of the shares of the Company's common stock and intends to increase its stake in the Company.
Posted In: JACK
