Biglari Holdings has raised its offer to buy Fremont Michigan InsuraCorp. Biglari Holdings will now pay $31 per share in cash to acquire 100% of the issued and outstanding shares of common stock of the insurer. Previously in 2009, Biglari Holdings had offered $24.50 a share to Fremont Michigan. The Texas-based restaurant owner currently holds about 9.7% of the outstanding common shares of Fremont Michigan.

Click here for the release from Trading Markets.