Dine Brands, owner of IHOP and Applebee's, adopts poison pill after reported buyout bid
The gist
Dine Brands' board adopted a poison pill after Bloomberg reported a $39-per-share buyout bid.
The plan aims to stop buyers from building stakes without paying a premium.
How it unfolded
- Feb 2025Dine Brands opened the first U.S. Applebee's-IHOP combo restaurant.
- Jan 2026Dine Brands opened its first dual-branded Applebee's and IHOP inside an airport, at Dallas Love Field Airport.
- Oct 28, 2026Bloomberg reported Cobblers Cove and Arkhouse Management are looking to buy Dine Brands, with an offer at $39 per share that could rise after due diligence.