Deutsche Bank analyst Darren Lehrich provided a nice pop to shares of Brookdale Senior Living Friday when he wrote that the company could separate its property holdings and nursing home businesses and place the former into a real estate investment trust. (Apparently, it's what all the cool local kids are doing these days.) If it happens, look for Fortress Investment Group, which owns 14 percent of Brookdale and has two board seats, to drive the train. Fortress has been doing the same at Penn National Gaming.
“To the extent that Fortress played a big role behind the scenes to effect [the Penn deal], it could potentially have implications for [Brookdale],” Lehrich wrote.
SEE ALSO: Details on two other recent instances when market chatter lifted Brookdale shares
Shareholders of Cracker Barrel Old Country Store will this morning have their say in the lengthy governance tussle between the company and Sardar Biglari, who owns 18 percent of its shares. To recap, Biglari is contesting the board's recommendations on three fronts: He wants board seats for himself and his No. 2 at Biglari Holdings, he wants investors to vote down the proposed extension of the company's poison pill — they did so last year — as well as the executive compensation plans. Look for some sort of news from the shareholders' meeting around lunch. In the meantime, if you're so inclined, download the company's full proxy here. Biglari's competing proxy is here.
The board of digiChart has tapped Harry Jacobson to take over as chairman of the health care software venture. The former head honcho at Vanderbilt University Medical Center — who has invested in the company as has the MedCare Investment Funds he oversees — takes the place of founder Bill Bates, who last month said he will take on emeritus status.
“digiChart has been successful because the company delivers on its promises of making OB-GYN practices more efficient, reducing errors and improving the quality of women’s healthcare. I’m excited to work with Phil and the rest of the digiChart team to further build on this success,” said Dr. Jacobson.
Sardar Biglari has in recent days bought another 18,200 shares of Cracker Barrel Old Country Store, whose shareholders will vote next month on whether to add him and his No. 2 at Biglari Holdings to the board. The purchases cost almost $1.2 million and take his stake in Lebanon-based Cracker Barrel (Ticker: CBRL) to 17.52 percent.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS