Denny's $620 million deal sends DENN share price at Nasdaq 50 per cent higher. Details here

Core Viewpoint - Denny's is being acquired by a group of investors in a deal valued at $620 million, which will take the breakfast chain private [1][9]. Acquisition Details - Denny's shareholders will receive $6.25 per share in cash, totaling $322 million, representing a 52% premium to the closing stock price on the day of the announcement [2][11]. - The acquisition is led by TriArtisan Capital Advisors, along with Treville Capital and Yadav Enterprises, one of Denny's largest franchisees [1][9]. Company Background - Denny's was founded in 1953 in Lakewood, California, originally as Danny's Donuts, and changed its name in 1959 [3][11]. - The company began trading on the New York Stock Exchange in 1969 [3][11]. Recent Performance and Challenges - Denny's experienced a significant decline in sales during the COVID pandemic and has been adapting to changing customer dining patterns, including increased reliance on delivery services [4][11]. - The company has faced competition from newer chains promoting healthier breakfast options [4][11]. - In response to performance issues, Denny's announced plans to close 150 of its lowest-performing locations [6][11]. Strategic Outlook - Denny's CEO Kelli Valade indicated that the board considered the acquisition to be in the best interest of shareholders and the best path forward for the company [7][12]. - TriArtisan's Co-Founder expressed enthusiasm about supporting Denny's long-term strategic growth plans [8][12].