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Wednesday, March 10, 2010

Western Sizzlin delists stock prior to merger

The Ticker business blog

The latest from The Ticker blog

Western Sizzlin Corp. intends to remove its common stock from the Nasdaq index, related to a planned acquisition by Steak 'n Shake Co.

Roanoke-based Western Sizzlin said this week that it has given notice to Nasdaq to de-register its stock. It plans to file a form about this delisting with the Securities and Exchange Commission on or about March 19, according to a news release.

In October, Indianapolis-based Steak 'n Shake and Western Sizzlin said they intended to merge.

With this move, Steak 'n Shake, a hamburger company, will form a subsidiary to acquire Western Sizzlin. Western Sizzlin would become a private company and a wholly owned subsidiary of Steak 'n Shake.

Western Sizzlin will hold a meeting March 22 in San Antonio for its shareholders to consider and vote on this planned acquisition.

-- Jenny Kincaid Boone

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