Restaurant chain Denny's soars after $620 million take-private deal

Dennys

04/11/2025 17:23

** Shares of restaurant chain Denny's DENN.O up as much as 50.6% at $6.19 - its highest level since February 2025

     ** If gains hold, stock set for best day since March 2003

** Co announced on Monday that it would be bought by a group comprising TGI Fridays-owner TriArtisan Capital Advisors in a $620 million all-cash deal, including debt

** "Micro-cap restaurant stocks have been out of favor by public market investors, creating opportunities for private market investors with longer time horizons to capitalize on" - Jake Bartlett from Truist Securities

** Under the agreement, the group would offer Denny's stockholders  $6.25 per share in cash, representing a premium of 52.1% to DENN's last close on Monday

** Co said the deal with the group is expected to close in the first quarter of 2026, following which its stock would no longer be listed on Nasdaq

**Including session moves, stock up nearly ~2%, YTD

 (Reporting by Koyena Das in Bengaluru)

 ((koyena.das@thomsonreuters.com))