Applebee’s Owner Adopts Poison Pill to Fend off Hostile Takeover

Dine Brands Global Inc., parent company of Applebee's, adopted a shareholder rights plan on March 15, 2026, in response to a takeover bid from investment firms Cobblers Cove Capital and Arkhouse Management. The poison pill provision triggers if any party acquires 20 percent or more of the company's shares without board approval, allowing existing shareholders to purchase additional stock at a discount. Cobblers Cove Capital and Arkhouse Management had jointly proposed acquiring Dine Brands for an undisclosed price prior to the adoption of the defensive measure.

• Bloomberg — Applebee’s Owner Adopts Poison Pill to Fend off Hostile Takeover

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