Denny’s set to go private in $620m buyout

Core Insights - Denny's, a restaurant chain based in South Carolina, has agreed to be acquired by a consortium led by TriArtisan Capital Advisors for a total transaction value of $620 million, including debt [1] - Shareholders of Denny's will receive $6.25 in cash per share, reflecting a significant premium over recent trading prices [2] Acquisition Details - The acquisition offer represents a 52.1% premium to Denny's closing share price on November 3, 2025, and a 36.8% premium to the company's 90-day volume-weighted average price [2] - The deal is expected to close in the first quarter of 2026, subject to customary closing conditions such as shareholder approval and regulatory clearances [4] Strategic Review - Denny's board conducted a thorough review of strategic alternatives after receiving interest from TriArtisan, reaching out to over 40 potential buyers and receiving multiple offers [3] - The board concluded that the transaction maximizes value for shareholders and is in their best interests, following consultations with external financial and legal advisors [4] Post-Acquisition Changes - Upon completion of the acquisition, Denny's common stock will be delisted from Nasdaq [5] - Truist Securities is serving as the financial advisor for Denny's, while several law firms are providing legal counsel for both Denny's and TriArtisan [5]