IHOP Digs into Applebee's

The pancake house thinks its recent revival might rub off on the languishing dinner chain. But will shareholders agree to the deal?

IHOP (IHP), a recent and rare success story among national restaurant chains, believes it can use similar strategies to revive the flagging Applebee's (APPB) restaurant chain. IHOP offered $25.50 per share to buy out Applebee's in a $2.1 billion deal on July 16.

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