Financing
Sardar Biglari buys another oil company
The Bottom Line: Biglari Holdings, which owns Steak n Shake and other holdings, spent $80 million to acquire a majority of shares in Abraxas Petroleum Corp.
Leadership
Sardar Biglari makes more changes to his incentive agreement
The Bottom Line: Biglari Holdings, the owner of Steak n Shake, defends a services agreement with its chairman’s investment fund and commits to making up prior investment losses.