OVERLAND PARK KAN. Applebee’s International Inc.’s board of directors chose the lesser of two evils in July when they agreed to allow IHOP Corp. to acquire the 1,950-unit casual-dining chain for $2.3 billion just as turbulent credit markets scotched a management-led plan to fund a recapitalization of the company, proxy materials recently filed with securities regulators indicated. — The detailed proxy, filed with the ...

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