* Raises offer by $2/shr
* New $31/shr offer at 19 pct premium
Dec 3O Restaurant-chain operator Biglari
Holdings Inc (BH.N) raised its offer to buy out Fremont
Michigan InsuraCorp Inc FMMH.OB by $2 per share.
The new offer, at $31 per share, is at a premium of 19
percent to Fremont's Thursday close of $26 on the Bulletin
In October, the company made a bid at $29 a share for the
insurer, in which it owned about 10 percent. [ID:nSGE69A17V]
The operator of Steak n Shake chains had first offered to
buy Freemont last December for $24.50. [ID:nSGE5BM0KU].
Biglari shares closed at $420.25 on Thursday on the New
York Stock Exchange.
(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by