The broken hearts club?

February 5, 2007

images-2.jpegJudging by the growing number of ads for expensive jewelery and pricey chocolates (not to mention overpriced flowers), we’re getting closer to Valentine’s Day. But there’s more than a few spurned suitors who seem to be using SEC filings to express their anger about deals that don’t seem to be going their way.

Take the situation at Friendly Ice Cream (FRN). Back in November, we footnoted about the problems between management and a group led by the Lion Fund, which is run by San Antonio investor Sardar Biglari. Well, on Friday, the folks at Lion added a bit of kindling to the fire, judging by this filing and setting up a new website called Enhance Friendly’s. The site includes the various news stories that have been written about the deal as well as Biglari’s letters to Friendly investors and other SEC-related items. As things stand right now, Friendly’s has turned down Biglari’s request for two board seats.

But Biglari wasn’t the only spurned suitor to bear his feelings in an SEC filing. Late Friday, Airtran Holdings (AAI) filed this letter to three of Midwest Air Group’s (MEH) directors seeking to replace them with three directors who believe that the two regional airlines should combine.

Valentine’s Day is still over a week away. Can’t you feel the love?

PS: I’m getting used to the latest version of WordPress, so my coding is a bit off this morning.

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