San Antonio, TX, June 4, 2015 /PRNewswire/ -- The Lion Fund II,
L.P. ("The Lion Fund II") today commenced a tender offer to
purchase for cash up to 575,000 shares of the common stock of
Biglari Holdings Inc. (NYSE: BH) at a purchase price of
$420.00 per share.
This tender offer will expire at 11:59
P.M., New York City Time, on July 1,
2015, unless the tender offer is either extended or
withdrawn. Upon expiration, payment for the shares of common stock
accepted for purchase under the tender offer will occur as promptly
as is practicable in accordance with applicable law. Any questions
or requests for assistance may be directed to Okapi Partners LLC,
by telephone, toll free at (877) 629-6357.
Important Notice
This press release is a summary provided for informational
purposes only and is not an offer to buy or the solicitation of an
offer to sell any securities of Biglari Holdings Inc. The full
details of the tender offer, including complete instructions on how
to tender shares, will be included in the offer to purchase, the
letter of transmittal and other related materials, which The Lion
Fund II will publish, send or give to shareholders, and file such
materials with the SEC. Shareholders are urged to read carefully
the offer to purchase, the letter of transmittal and other related
materials, as well as the Solicitation/Recommendation Statement on
Schedule 14D-9 to be filed by Biglari Holdings Inc., when they
become available because they contain important information,
including the terms and conditions of the tender offer.
Shareholders may obtain free copies of the offer to purchase, the
letter of transmittal and other related materials, as well as the
Solicitation/Recommendation Statement on Schedule 14D-9, after they
are filed with the SEC at the SEC's website at www.sec.gov.
Forward-Looking Statements Disclaimer
Certain statements in this letter constitute "forward-looking
statements." Forward-looking statements are statements that are not
historical, including statements regarding management's intentions,
beliefs, expectations, representations, plans or predictions of the
future, and are typically identified by words such as "believe,"
"expect," "anticipate," "intend," "estimate," "predict,"
"potential," "continue," "likely," "plan," "seek," "may," "will,"
"should," "would" and "could." These forward-looking statements are
not historical facts but are the intent, belief or current
expectations of The Lion Fund II based on its knowledge and
understanding of the business and industry, the economy and other
future conditions. These statements are not guarantees of future
performance, and shareholders should not place undue reliance on
forward-looking statements. Actual results may differ materially
from those expressed or forecasted in the forward-looking
statements due to a variety of risks, uncertainties and other
factors, including but not limited to the factors listed and
described under "Risk Factors" in Biglari Holdings Inc.'s most
recent Annual Report on Form 10-K, as filed with the SEC. The
Lion Fund II undertakes no obligation to update or revise the
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results, except as may be required by applicable law.
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SOURCE The Lion Fund II, L.P.