{"id":5139,"date":"2006-10-12T00:00:00","date_gmt":"2006-10-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"activist-hedge-fund-reports-5-ownership-of-applebees","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2006\/activist-hedge-fund-reports-5-ownership-of-applebees.html","title":{"rendered":"Activist Hedge Fund reports 5% Ownership of Applebees"},"content":{"rendered":"<p>  HedgeCo.Net (New York) &#8211; Breeden Capital Management <span class=\"caps\">LLC<\/span>, the activist hedge fund of former Securities and Exchange Commission Chairman Richard Breeden, reported that it  owns 3.9 million shares, or 5.24% of Applebee\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s International Inc.\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s common stock.<\/p>\n<div class=\"writeboardbody\">\n<p>    In a filing with the Securities and Exchange Commission, Breeden Capital said that it had bought the shares due to their undervalued price listings, not to retain control. The purchase price for    the shares was $77.7 million.  <\/p>\n<p>    Breeden Capital said it had spoken with Applebee\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s <span class=\"caps\">CEO<\/span> Dave Goebel and recommended to Applebee\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s <span class=\"caps\">CEO<\/span> Dave Goebel, that the company should    refranchise and modify executive compensation practices to increase shareholder value.  <\/p>\n<p>    Between Sept. 18 and Sept. 29, Breeden Capital bought about 740,000 shares of Applebee\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s stock for about $22 a share, or a total of $16.3 million, the filing said.  <\/p>\n<p>    Breeden Capital Management is registered as an investment adviser to Breeden Partners LP as well as Breeden Partners Ltd., a private fund organized as an exempted company under the laws of the    Cayman Islands, according to filings with the <span class=\"caps\">SEC<\/span>.  <\/p>\n<\/div>\n<p align=\"left\">  &nbsp;<\/p>\n<p align=\"left\">  Alex Akesson<br \/>  Contributing Writer<br \/>  HedgeCo.Net<br \/>  Email: <a href=\"mailto:Editor@hedgeco.net\">Editor@hedgeco.net<\/a> <\/p>\n<div align=\"left\">\n<p align=\"left\">    HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge    Funds!  <\/p>\n<div align=\"left\">\n<p align=\"left\">      <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=      \"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong> and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>    <\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; Breeden Capital Management LLC, the activist hedge fund of former Securities and Exchange Commission Chairman Richard Breeden, reported that it owns 3.9 million shares, or 5.24% of Applebee\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s International Inc.\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s common stock. In a filing with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5139","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5139"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5139\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}