SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only
(as permitted by Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[X] Soliciting Material Pursuant to Section 240.14a-12
APPLEBEE'S INTERNATIONAL, INC.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
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pursuant to Exchange Act Rule 0-11 (set forth the amount on which
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[ ] Fee paid previously with preliminary materials.
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FOR IMMEDIATE RELEASE
Investor Contact:
Carol DiRaimo, (913) 967-4109
Media Contact:
Laurie Ellison, (913) 967-2718
Applebee's International Exploring Strategic Alternatives
for Enhancing Shareholder Value
OVERLAND PARK, KAN., Feb. 13, 2007 - Applebee's International, Inc.
(Nasdaq:APPB) today announced that its Board of Directors has formed a committee
of independent directors to explore strategic alternatives for enhancing
shareholder value, including a possible recapitalization or sale of the company.
The committee has retained Citigroup Global Markets Inc., and the company has
retained Banc of America Securities LLC as financial advisors. Legal advisors
are Cravath, Swaine & Moore LLP, New York, and Blackwell Sanders Peper Martin
LLP, Kansas City.
In making the announcement, the company said there is no assurance that the
process will result in any specific transaction. However, the company also noted
that certain strategic alternatives could affect its previously issued guidance.
As a result, the company is withdrawing its fiscal year 2007 guidance.
The company does not expect to disclose further developments regarding the
process until after the committee has completed its review and evaluation of
strategic alternatives.
The company will release fourth quarter and fiscal year 2006 results after the
market closes on Feb. 14, 2007. A conference call will be held on Thursday, Feb.
15, 2007, at 10:00 am. Central Time (11:00 a.m. Eastern Time). The conference
call will be broadcast live over the Internet and a replay will be available
shortly after the call on the "Investors" section of the company's website
(www.applebees.com).
Applebee's International, Inc., headquartered in Overland Park, Kan., develops,
franchises and operates restaurants under the Applebee's Neighborhood Grill &
Bar brand, the largest casual dining concept in the world. There are currently
1,942 Applebee's restaurants operating system-wide in 49 states and 17
international countries. Additional information on Applebee's International can
be found at the company's website (www.applebees.com).
- more -
February 13, 2007
Page 2
IMPORTANT INFORMATION
Applebee's International, Inc. ("Applebee's") plans to file with the SEC and
mail to its stockholders a Proxy Statement in connection with its 2007 Annual
Meeting, and advises its security holders to read the proxy statement and other
documents relating to the 2007 Annual Meeting when they become available,
because they will contain important information. Security holders may obtain a
free copy of the proxy statement and other documents (when available) that
Applebee's files with the SEC at the SEC's web site at www.sec.gov. The proxy
statement and these other documents may also be obtained for free from
Applebee's by directing a request to our Corporate Secretary, Applebee's
International, Inc., 4551 West 107th Street, Overland Park, KS 66207.
CERTAIN INFORMATION CONCERNING PARTICIPANTS
Applebee's, its directors and named executive officers may be deemed to be
participants in the solicitation of Applebee's security holders in connection
with its 2007 Annual Meeting. Security holders may obtain information regarding
the names, affiliations and interests of such individuals in Applebee's Annual
Report on Form 10-K for the year ended December 25, 2005, and its proxy
statement dated April 11, 2006, each of which is filed with the SEC. To the
extent holders of Applebee's securities have changed from the amounts disclosed
in the proxy statement, such changes have been reflected on Statements of Change
in Ownership on Form 4 filed with the SEC. These documents are available free of
charge at the SEC's website at www.sec.gov.
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