""The Company reached out to more than 40 potential buyers and ultimately received multiple offers," said Kelli Valade, CEO of Denny's Corporation. "After careful consideration of all options and in consultation with external financial and legal advisors, the Board is confident the transaction maximizes value and has determined it is fair to and in the best interests of stockholders and represents the best path forward for the Company.""
"The terms of the agreement include a $6.25 cash payout per share for investors, a price that reflects a 52.1% premium above share price at the end of trading on Monday, November 3 - the final full trading day before the announcement. Ultimately, the decision whether or not to proceed with the deal is still in the hands of the company's shareholders - as well as U.S. regulators - but the company has been struggling for years."
"The Denny's Corporation announced in a press release on Monday that it entered an agreement to be acquired by a consortium of three businesses for a price of approximately $620 million. The agreement was "unanimously approved" by the company's board of directors, setting the stage for TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises to take the company private in early 2026, pending shareholder and regulatory approval."
Denny's Corporation entered an agreement to be acquired by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises for approximately $620 million. The board unanimously approved the deal, which requires shareholder and regulatory approval and aims to take the chain private in early 2026. The transaction offers $6.25 cash per share, a 52.1% premium over the November 3 closing price. Denny's solicited offers from more than 40 potential buyers and received multiple bids. The chain plans to close 150 stores in 2025 and faced pressure from a 2025 avian flu outbreak, prompting egg price increases and contributing to a long-term share price decline since early 2021.
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