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Bob Evans shareholder pushes for real estate spinoff

Bob Evans Farms could raise $723 million by selling the 482 restaurants it owns and leasing the space back from the new owners. The company’s largest shareholder is pushing for the chain to sell the real estate and use the proceeds to buy back Bob Evans shares; the company has said it will listen to proposals, but that ownership gives it more flexibility in moving to new spaces and remodeling existing locations. Read the American City Business Journals/Columbus, Ohio story here.

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